Question

what sum of money lent for 3yr at 4% per year will amount to ₹392?​

Answer 1

Let the sum of money be P

Rate = 4%

Time = 3 years

SI = 392 Rs.

Apply formula,

SI = P×R×T

100

392 = P×4×3

100

P = 39200

12

P = 3266.67 Rs.