Mohsin lent a sum of money at 10%per annum simple interest and received an interest of 2160 in 6years. Find the sum
Answers
Answer:
265 is the answers
Step-by-step explanation:
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Answer:
3,600
Step-by-step explanation:
Principal = P
Rate = 10%
Time = 6 years
Simple Interest Formula = P × R × T/100 = 2,160
= P × 10 × 6/100 = 2,160
= P × 60/100 = 2,160
= P × 60 = 2,160 × 100
= P × 60 = 216,000
= P = 216,000/60
= P = 3,600
∴ the sum = 3,600
CHECKING
Simple Interest = P × R × T/100
= 3,600 × 10 × 6/100
= 216,000/100
= 2,160