Question

Find the sum of money on which interest equals. 2400, time=7years,rate=4%. Please solve on copy.

Answer 1

$si = \frac{p \times r \times t}{100} \\ 2400 = \frac{p \times 4 \times 7}{100} \\ 2400 = \frac{28p}{100} \\ p = \frac{240000}{28} \\ p = 8571.42 \: ans$