Question

What sum of money will earn an interest of $ 162 in 3 years at the rate of 12% per annum

Answer 1

Let the sum of money be Rs p


So Amount = p +[( p x 12 x 3 )/100]                  {from the relation,a=p+[(pxRxt)]}

But Amount is given as $162 in the question

⇒ 162 = y +(36y)/100

⇒ 162 = 34y/25

⇒ y = $119.117

So, the answer is $119.117

Answer 2

Step-by-step explanation:

GIVEN:-

R = 12%

T= 3yrs

P = ?

FORMULA:-

Simple interest =

$\frac{p \times r \times t}{100}$

SOLUTION:-

$162 = \frac{p \times 12 \times 3}{100}$

$162 \times 100 = p \times 36$

$16200 = p \times 36$

$p = \frac{16200}{36}$

HENCE P = 450