Question

The sum required to earn a monthly interest of ₹ 1500 at 5% per annum at simple interest.​

Answer 1

Answer:

Rs.180075.

Step-by-step explanation:

Given : A monthly interest of 1500 at 5% per annum at simple interest.

To find : The sum required to earn a monthly interest ?

Solution :

Applying simple interest formula,

I=P\times R\times TI=P×R×T

Where, I=Rs.1500 is the interest

P is the sum

Rate r =5%= 0.05

Time t = 1 month

In year, t=\frac{1}{12}\ yrt=121 yr

1500=P\times 0.05\times\frac{1}{12}1500=P×0.05×121

P={1500\times 12}{0.05}P=1500×120.05

P=Rs.180075P=Rs.180075

Therefore, the sum is Rs.180075.

#Learn more

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