Question

Sheela has paid simple interest on a certain sum for 4 years at 9.5 % per annum is ₹21,280.Find the sum.​

Answer 1

$\fontsize{18}{10}{\textup{\textbf{The required sum is Rs. 56000.}}}$

Step-by-step explanation:

Let the required sum of money be represented by Rs. p.

According to the given information, we have

time, n = 4 years,  rate of interest, r% = 9.5%  and

simple interest, S.I. = Rs. 21280.

The formula for calculating simple interest is given by

$S.I.=\dfrac{p\times r\times n}{100}.$

So, we must have

$21280=\dfrac{p\times9.5\times4}{100}\\\\\\\Rightarrow 21280=\dfrac{38p}{100}\\\\\\\Rightarrow p=\dfrac{21280\times100}{38}\\\\\Rightarrow p=56000.$

Thus, the required sum is Rs. 56000.

#Learn more

Question : The simple interest on a certain sum for 3 years at 8% per annum is 96 more than the simple interest on the same sum for 2 years at 9% per annum find the sum.

Link : https://brainly.in/question/1333288.