The sum of money that will produce Rupees 1770 as a simple interest in 7 integer 1 by 2 years at 8% at per annum is
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Answer:
A/Q
Simple interest = 1770
Time = 7 1/2 years = 15/2 years
Rate = 8% p.a
Principal = S.I × 100/T × R
= 1770 × 100 × 2/15 × 8
= 1770 × 100/15 × 4
= 1770 × 25/15
= 44250/15
= 2950; ans.
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