Question

What sum returns an interest of 350 at 2% per annum in a period of 5 years?

Answer 1

Answer:

Principal (P) = 350

Number if years (N) = 5years

Rate of returns=2% that is 2/100

Simple Interest =?

We know that,

Simple interest = P × R × N /100

Simple interest = 350×5×2/100

Simple interest=3500/100

Simple interest=35

Answer: The sum returns will be RS.35

Hope this is useful.

Answer 2

Answer:

Let the sum be x.

S.I. = P × R × T/100

₹350= x × 2 × 5/100 (By cross multiple)

x = ₹350 × 100/2 × 5

x = ₹3500

So, the sum is ₹3500.