Question

How much investment is required to yield an annual income of ₹21000 at 7%par annum simple interest​

Answer 1

The investment required to yield an annual income of 21000 at 7% per annum simple interest will be 300000

Answer 2

Rs.19626.168224 is required to yield an annual income of ₹21000 at 7%par annum simple interest​

Step-by-step explanation:

Let the principal be x

Amount = 21000

Simple interest =Amount - Principal= 21000-x

Rate of interest = 7%

Time = 1 year

Formula :$SI = \frac{P \times T \times R}{100}$

$21000-x=\frac{x \times 1 \times 7}{100}$

$100(21000-x)=x \times 1 \times 7$

$100(21000-x)=7x$

19626.168224=x

Hence Rs.19626.168224 is required to yield an annual income of ₹21000 at 7%par annum simple interest​

#Learn more:

Find the simple interest and the among of simple interest rs350 for 4years at 6% p.a.

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