Question

What sum of money lent out at 2.5 % per annum for 3 years would

produce Rs 37.50 as interest?​

Answer 1

Answer:

Given rate of interest = 2.5% p.a.

Given time period = 3 years

Given simple interest = Rs. 37.50

principal amount = ?

We know that simple interest is equal to $\frac{P * R *T}{100}$ . So, by substituting the values, we will get the principal amount.

⇒ Simple interest = $\frac{P*R*T}{100}$

⇒ Rs. 37.50 = $\frac{P*2.5*3}{100}$

⇒ Rs. 37.50 = $\frac{P*7.5}{100}$

⇒ Rs. 37.50 * 100 = P * 7.5

⇒ Rs. 3750 = P * 7.5

⇒ $\frac{Rs.3750}{7.5}$ = P

⇒ Rs. 500 = P

Hence, the principal amount is of Rs. 500.

Thnx and have a nice day!

✌(●'◡'●)

Answer 2

Answer is in attachment✌✌✌