Question

Rajeev invested a sum of money for
a period from July 2015 to July 2017
at the rate of 8% per annum. If the
interest received by him is ₹1620, find
the sum.​

Answer 1

answer

Formula to calculate Simple Interest?

If P denotes the principal ($), R denotes the rate (percentage p.a.) and T denotes time (years), then:-

S.I = (P × R × T)/100

R = (S.I × 100)/(P × T)

P = (S.I × 100)/(R × T)

T = (S.I × 100)/(P × R)

If the denotes the amount, then A = P + S.I