Question

what sum of money lent at 3% P.a. for 2 1 upon 2 years produce rupees 450 as interest?​

Answer 1

Answer:

Simple interest, i = ₹450

Let Principal be ₹ p

Time, t = 5/2 years

Rate of interest, r = 3%

Using formula

$p = \frac{i \times 100}{t \times r} \\ = \frac{450 \times 100}{ \frac{5}{2} \times 3 } \\ = \frac{450 \times 100 \times 2}{5 \times 3} \\ = 6000$