Question

Find the Principal on Which the simple interest for 3 1/2 years at 4% amount to Rs. 1026

Answer 1

● Interest=pxnxr /100

p is principal amount

n is number of years

r is rate of interest like 4 percent or 5 percent per annum.

Here after 3.5 years the amount is 1026(principal+interest)

So 1026=p+(px3.5x4/200)

1026=p+(px0.14)=p+0.14p=1.14p

So p=1026÷1.14=900 rupees.

On this principal amount of 900 rupees ,36 rupees interest was earned per annum ,for 6months(half year) it is 18 rupees.

Step-by-step explanation:

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