Question

Find the sum which will amount to ₹165.75 in 7÷2 years at 3%per annum simple interest

Answer 1

Let the unknown sum invested be P.

Then P is the principal.

We know that simple interest formula

for Principal P, interest rate R and years N = PNR/100

Here n = 7.5(given)

R = 3

Simple interest = 165.75

Substitute in the formula for known things.

Hence 165.75=P(15/2)(3)/100

Simplify by multiplying by 200 both the sides

Then divide by 45 both the sides.

Or 16575(2)  = 45 P

P = 736.67