Question

What sum of money at 3.5% per month simple interest will earn an interest of
Rs.567 in 1 year 6 months?

Answer 1

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Answer 2

Answer:

Rs.10800.00

Step-by-step explanation:

Here, I = 567.00

P= ?

T= 1 yr 6 months i.e 1 1/2 i.e 3/2 or say 1.5

R = 3.5

Now put the figure in formula :

Here we have to find the P

So, formula will be -> P=I * 100/TR

=>P=567*100/1.5*3.5

=>P=56700/5.25=10800.00

You can cross check the answer -> 10800*3.5%*1.5 = 567.00

So the Sum of Money is Rs.10800.00