Question

on - rate of interest rupees 3000 gives the simple interest 540 in 3 years​

Answer 1

Step-by-step explanation:

Rs. 2,000/- as original investment.

Method:

step 1: simple interest for 3 years =540/-, hence for one year, interest = 180/- and y for 2 years, 360/-.

step 2: Difference of interest at two years between simple vs. compound interest (376.20 and 360) is Rs. 16.20, which is the interest earned on first year's 180 interest, which amounts to 16.20×100/180=9%

step 3: To earn Rs. 180 in 1 year at 9%, you need 2000/- as principal.