Question

what is sum of money lent out on S.I will amount to rupees 1904 in 3 years at 1% per month

Answer 1

Amount=1904
Let Principal amount =x
Time =3 years
Rate=1%

SI=P×r×t/100
SI=x×3×1/100
Si=3x/100

Amount=PRINCIPAL AMOUNT+SI
X+3X/100=1904
LCM=100
103X/100=1904
X=1904×100/103
X=1048.54 rupees
Principal=1048.54

Answer 2

Given

Amount = A = 1904

Time = T = 3

R =Rate of Interest Per annum
= 1% Per month = 1 × 12 months= 12% Per annum

We know that

A = P( 1 + TR/100)

1904= P( 1 + 3×12/100)

1904=P(1 + 36/100)

1904 = P( 1 + 0.36)

1904 =P(1.36)

1904/1.36 = P

1400 = P