Question

what sum of money lent at 3 percent p.a. for 2.5 years produces rs 450 as interest​

Answer 1

Given:

What some of the money lent at 3% p.a. for 2.5 years will get you ₹450 as interest?

To Find:

Principal amount

Solution:

To find the principal amount we will have to use the Simple Interest Formula i.e.

                                              $I=\frac{P*R*T}{100}$

for which,

 Interest ($I$)= ₹450

 Rate of Interest($R$)=3%

 Time($T$)=2.5 years

 Principal($P$)= to be found

therefore putting every value in the given equation,

                                             $450=\frac{P*3*2.5}{100}\\150=\frac{P}{40}\\P=6000$

Hence, the principal amount needed to get Interest of ₹450 at3% for 2.5 years will be ₹6000.