Question

what is sum of money lent out at 6.25 percent per annum simple interest produces Rupees 37.50 as interest in 8 month?​

Answer 1

Answer:

Step-by-step explanation:

amount X time X rate /100 = INTEREST

AMOUNT = ?

TIME = 8 month = 8/12 year

RATE =6.25 % per year

INTEREST = 37.5

Now putting these values in formula,

amount X 8/12 X 6.25/100 = 37.5

amount = (37.5 X12X100)/(8X6.25)

on solving

amount =900

sum of money lent out=900rs