Question

What sum lent at 10% p.a simple interest would produce `. 1200 as interest in 4 years?

Answer 1

$\sf \: si \: = \frac{p \times r \times t}{100}$

$\sf si = \frac{1200 \times 10 \times 4}{100}$

$\sf \: si \: = \frac{48000}{100}$

$\sf \: si \: = 480$