Question

What sum of money will earn an intrest of Rs. 162 in 3 years at the rate of 12% per annum.

Answer 1

P= 100×162÷3×12

=450

450 sum of money will earn an interest of RS. 162 in 3 years at the rate of 12% annum.

Answer 2

Given,

An interest of Rs. 162 in 3 years at the rate of 12% per annum.

To Find,

The principal amount =?

Solution,

We can solve the question as follows:

It is given that we have to find what sum of money will earn an interest of Rs. 162 in 3 years at the rate of 12% per annum.

$Simple\: interest = Rs.\: 162$

$Rate = 12$%

$Time = 3\: years$

$Principal = ?$

The formula for simple interest is given as:

$Simple\: interest = \frac{Principal*Rate*Time}{100}$

Substituting the values in the above formula,

$Rs\: 162 = \frac{Principal*12*3}{100}$

$162*100= Principal*36$

$Principal = \frac{162*100}{36}$

$Principal = 4.5*100$

$Principal = Rs.\: 450$

Hence, the sum of money is equal to Rs. 450.