Question

Find the sum of money lent out if Rs.9600/- is the simple interest at the rate of 16% per annum.

Answer 1

Answer:

Let the sum be ₹P. Then,

S.I. = P×R×T/100

=> 9,600 = P×16×2/100

=> 9,600 = 8P/25

=> P = 9,600×25/8

=> P = ₹30,000

Hence, the sum is ₹30,000.

Answer 2

Corrected Question:-

What sum of money lent out at 16 % per annum simple interest, so that it would produce ₹ 9600 as interest in 2 yr ?

Given :-

$Simple Interest (SI) = Rs 9600 \\Rate (r) = 16%\\Time (n)= 2 years$

To find:-

$Principal = ?$

Formula used:-

$Simple Interest =$ $\frac{P*R*T}{100}$

Solution:-

$Simple Interest ( SI) =$ $\frac{P*R*T}{100}$

                 $=> 9,600 =$ $\frac{P*16*2}{100}$

                  $=> 9,600 =$ $\frac{8P}{25}$

                         $=> P=$ $\frac{9,600*25}{8}$

                            $=> P = Rs 30,000$

Hence, the sum of the money lent out is  ₹30,000.

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hope it helps :D