Question

what principal must mr sharma deposit in bank today to earn rs 285 simple interest in 2 yrs if rate of simple interest is 4.75 percent

Answer 1

Hey there! ☺☻☺

Given,
S.I = Rs. 285
Rate = 2.75%
Time = 2 years

We know,
S.I = P*R*T/100
285 = P*4.75*2/100
P = 285*100/2*4.75
P = 2850000/950
P = Rs.3000
 
Hope It Helps You!

Answer 2

Let the principal be x
Then S.I.=285
Time=2years
Rate=4.75%
Formula=S.I.=P×R×T/100
285=x×4.75×2/100
285×100=x×4.75×2
28500=x×9.5
28500/9.5=x
3000=x