Question

If a certain sum of money earns an interest of Rs.3,630 in 3 year at the rate of 11p.c.p.a, what was the principal ?

Answer 1

Given that Interest paid = 3630,T = 3 years, R = 11%.

We know that SI = PTR/100

                       3630 = P * 3 * 11/100

                       363000 = P * 3 * 11

                       363000 = 33P

                       363000/33 = P

                        11000 = P.


The principal = 11000 rupees.


Hope this helps!