Question

suresh deposited sum of money at 890 for 3 years she received 3840 as simple interest find the sum of money she deposited​

Answer 1

The sum of money deposited by Suresh is Rs. 16000.

Step-by-step explanation:

Let the sum of money be denoted as Rs. “P”.

The rate of interest, R = 8% p.a.

Time period, T = 3 years

Simple interest, S.I. = Rs. 3840

We know the formula for calculating the simple interest is given by,

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

Substituting the given values in the formula, we get

3840 = [P * 8 * 3]/ 100

⇒ 3840 = [P * 24]/100

⇒ P = [3840 * 100]/24

⇒ P = [384000]/24

⇒ P = Rs. 16000 ← the sum of money deposited by Suresh

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