Question

What principles will earn an interest of840 at the rate
of 5/2℅ per annum in 3 years

Answer 1

Rs. 11, 200 will earn an interest of Rs. 840 at  $\frac{5}{2} \%$ rate for 3 years.

Step-by-step explanation:

To calculate the Principal, we use the formula:

$Simple Interest = \frac{Principal*Rate*Time}{100}$

Given:

Simple Interest = Rs. 840

Rate = $\frac{5}{2} \%$ per annum

Time = 3 years

Substituting:

$840 = \frac{Principal*5*3}{2*100}$

$Principal = \frac{840*2*100}{5*3} \\\\Principal = Rs. 11,200$

The principal amount to earn an interest of Rs. 840 at  $\frac{5}{2} \%$ rate for 3 years is Rs. 11,200.