Question

what sum of money lent at 13% p.a for 3 years fetches an interest of Rs.3900
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Answer 1

Answer:

10,000

Step-by-step explanation:

Given Data:

Iinterest "I'' = 3900 , Rate 'r' = 13% , No. of years 'n' = 3

Required:

Sum of money lent or Principal. 'P' = ?

Interest Formula:

 I = P x r x n

Putting the above values here,

3900 = P x 13% x 3

3900 = Px 39%

=> 3900/39% = P

= 10,000 (Answer)

Exam Tip:

Always try to put a thousand separator in given amount it shades a good impression on the examiner.

for Example:

an amount 10,000,000 ( 10M) is easy to read than ( 10000000 ).

:)