Question

THE INTREST EARNED ON A SUM AT A
RATE OF 7% P.A. FOR TWO YEARS IS 490.
FIND THE SUM THAT WAS BORROWED.​

Answer 1

Answer:

Interest = 490

Rate = 7% p.a

Time = 2 years

As per the formula,

I = P×R×T/100

490 = P × 7 × 2 / 100

P = 490 × 100/ 7 × 2

P = 3500

Hence the sum is 3500

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