Tha sam required to earn a monthly interest of 1200 at 18%per annum si is
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Tha sam required to earn a monthly interest of 1200 at 18%per annum si is 80000.
Explanation:
Let the principle = Rs x.
Time = 1/12 year.
S.i = 1200.
Rate = 18%
On putting in the formula,
Si = p × r × t / 100
1200 = x × 18 × 1 / 100 × 12
X = 1200 × 100 × 12 / 18
On solving, we get
X = 40000 × 2.
X = 80000
So the sum is 80000rs.
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