Question

if the simple interest on a certain sum of money for 3 years at the rate of 12.5% is rupees 3500 less than its principal. find the sum and simple interest​

Answer 1

Answer:

Simple Interest Formulas and Calculations:

Calculate Total Amount Accrued (Principal + Interest), solve for A. A = P(1 + rt)

Calculate Principal Amount, solve for P. P = A / (1 + rt)

Calculate rate of interest in decimal, solve for r. r = (1/t)(A/P - 1)

Calculate rate of interest in percent. ..

Calculate time, solve for t.