Question

find the sum for which interest paid after 3 years is rupees 450 at 5% rate of interest per annum

Answer 1

Let principal be P
Formula for finding P
P = (SI*100)/(R * T)
P = (450 * 100)/(5*3)
= 45000/15
= ₹3000
=> P = ₹3000

Answer 2

Let the sum of money be P.
Given,
R=5%
I=450
T=3 years
According to problem,
I=PRT/100
450=P*5*3/100
P=450*100/5*3
P=3000
The sum of money is 3000