Question

what amount should be lent in order to earn a monthly income of Rs.600 at 10% per annum simple interest

Answer 1

Answer:

Find out the capital required to earn a monthly interest of Rs. 600 per month as 6

Answer 2

Answer:

Let the capital be Rs. P.

We know that,

SI=P×R×T÷100

600=P×6×1÷100×12

P=120000