Question

Find the sum of money when
Simple interest at 7 1/4%p.a for 2 1/2 years is Rs 2356.25

Answer 1

Answer:

Here,

I = Rs 2356.25

R = 7

4

1

% p.a.

= 29 / 4 % p.a.

T = 2

2

1

years

= 5 / 2 years

Hence,

P = (I × 100) / (R × T)

= Rs (2356.25 × 100) / (29 / 4) × (5 / 2)

On further calculation, we get,

= Rs (2356.25 × 100 × 4 × 2) / (29 × 5)

= Rs (235625 × 8) / (29 × 5)

We get,

= Rs (47125 × 8) / 29

= Rs 1625 × 8

1. = Rs 13000

Answer 2

Answer:

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