Question

The simple interest earned on a certain sum if Rs. 1560 at the rate of 8% per annum in 2 yr. find the sum ?

Answer 1

Answer:

P=100xI/NR=100x1560 / 2x8=

Rs.9750. Ans

Answer 2

Answer:

Simple interest \(= \;\frac{{P \times \;T\; \times \;R}}{{100}}\)

Where,

P = principle amount,

T = the time period

R = the rate of interest.

Given T = 2 years, R = 8% and Simple interest = Rs.1560

∴ from the equation,

⇒ 1560 = (P × 2 × 8)/100

⇒ P × 16 = 1560 × 100

⇒ P = (156000/16) = Rs.9750

∴ Sum = Rs. 9750