Question

Mr Mehta lent a sum of money at 2 whole 1 by 2% per annum simple interest and received of rupees 2,400 in 3 years find the sum​

Answer 1

The sum of money is Rs 32,000.

Step-by-step explanation:

We are given that Mr. Mehta lent a sum of money at 2 whole 1 by 2% per annum simple interest and received of rupees 2,400 in 3 years.

Let the sum of money lend by Mr. Mehta be 'P'

and the rate of interest be 'R' and the time period be 'T'.

As we know that formula for simple interest is given by;

    Simple Interest (S.I.) =  $\frac{\text{Principal} \times\text{Rate of interest} \times \text{Time} }{100}$

                                 Or

                        $\text{S.I.} = \frac{\text{P} \times \text{R} \times \text{T}}{100}$

Here, S.I. = Rs 2,400

          T = 3 years

          R = $2\frac{1}{2}\%$ = $\frac{5}{2} \%$

So,   $\text{S.I.} = \frac{\text{P} \times \text{R} \times \text{T}}{100}$

       $2400 = \frac{\text{P} \times \text{5} \times \text{3}}{2 \times 100}$

        $\text{P} = \frac{2400 \times 2 \times 100}{5 \times 3}$

        P = 160 $\times$ 200 = Rs 32,000

Hence, the sum of money is Rs 32,000.