Question

what sum of money lent out at 6.25% per annum simple interest produces rs. 37.50 as interest in 8 months.

Answer 1

Interest=(Principle*Time*Rate of interest)/100
(P*8/12*6.25)/100=37.50
P*2/3*6.25=37.50*100
P*12.5/3=3750
P=3750*(3/12.5)
P=900

The sum of money lent out is Rs.900

Answer 2

here is your answer

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