Question

Find the sum of money when the final amount is Rs11300 at 4% p.a. for 3 years 3 months.

Answer 1

sum of money = p
rate = 4 %
time = 3 years 3 months
amount = 11300

changing 3 years 3 months to years
3 years + 3 / 12 years
3 years + 1 / 4 years
(12 + 1) / 4 years
13 / 4 years

so, time = 13 / 4 years

$simple \: interest \: = \frac{p \times r \times t}{100} \\ \frac{p \times 4 \times \frac{13}{4}}{100} \\ \frac{p \times 13}{100}$
amount = simple interest + principal

S.i + p = 13p/100
S.i = 13/100

amount - simple interest = principle

11300 - 13 / 100
(1130000 - 13) / 100
1129987 / 100
11299.87

sum of money = 1129 9.87

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