Question

On a certain sum, the simple interest paid after 3 years is Rs.450 at 5% rate of interest per annum. Find the sum (I will mark as brainliest)

Answer 1

Answer:

Sum = ₹517.5

Step-by-step explanation:

Given -

Principal = ₹450

Time= 3 years

Rate of interest= 5% per annum.

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Solution -

We'll first have to find the simple interest from the given information.

Simple interest= $\frac{rate×time×principal}{100}$

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$\frac{450 \times 5 \times 3}{100} \\ \\ = \frac{45 \times 5 \times 3}{10} \\ \\ = \frac{45 \times 3}{2} \\ \\ = \frac{135}{2} \\ \\ = 67.5$

So, simple interest is ₹67.5

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Let's now find the amount/sum

= simple interest+principal

= 67.5+450

= ₹517.5