Question

What sum of money will produce rs.285 interest in 3(3/4) years at 2(1/2)% simple interest

Answer 1

Answer:

Rs 3040

Explanation:

From the above given problem we can write:

Time given here is 3(3/4)= 15/4 years.

Rate of interest given here is 2(1/2)=5/2%.

The amount of interest given on the sum of money is rs 285.

So, according to the given problem we will have to find out the principal.

According to the formula of Simple Interest:

S.I=(p*r*t)/100 [p = principal, r= rate of interest , t= time]

285 =( p * 5/2 * 15/4)/100

p = 285 *100 * 2/5 * 4/15

p = 95 *32

p= 3040

So, the given sum of money on which interest will amount to rs 285 in 15/4 years at 5/2 % rate of interest is rs 3040.

Answer 2

Explanation:

hope this will help you