Question

Ajay
Ajay
deposited a certain sum of money in a bank at an interest rate of
13
13
% per annum. If he receives interest of
Rs
Rs

2
,
301
2,301
at the end of
3
3
years, calculate the initial sum of money.​

Answer 1

Answer:

principal amount=5,900

Step-by-step explanation:

interest = (principal×rate×time)/100

2,301=(p×13×3)/100

230100=p×13×3

p=230100/(13×3)

p=17700/3

p=5,900