Question

Capital required to earn a monthly interest of rs 210 at 7% per annum simple interest is

Answer 1

Answer:

3000

Explanation:

210/7% = Capital employed

Answer 2

Capital = 46,285.70 (Approx)

Explanation:

Given:

Monthly interest = 210

Rate of interest = 7% = 7 / 100 = 0.07

Computation of capital :

$Monthly\ interest = \frac{Capital\times rate\ of\ interest }{12}$

$270 = \frac{Capital\times 0.07 }{12}$

$270\times 12 = Capital\times 0.07 \\\\3,240 = Capital\times 0.07 \\\\\frac{3,240}{0.07} = Capital\\\\Capital = 46,285.7143$

Capital = 46,285.70 (Approx)

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