Question

intrest question...Class7




What sum of money will yeild a simple intrest of ₹1155 in 3 years 6 months at 11% per annum?

Answer 1

Given :

Interest = 1155, rate r = 11%, Time n = 3 years 6 months = 3(6/12) = 3(1/2) = (7/2).

We know that SI = PTR/100

Then P = (100 * SI)/R * T

= > (100 * 1155)/(11 * 7/2)

= > (100 * 1155 * 2)/(11 * 7)

= > 231000/77

= > 3000.

Therefore, the sum = 3000.

Hope it helps!