Question

what sum will amount to 9520 at 9% in 4 years at simple interest

Answer 1

Let sum is principle (P) be x
we calculate the simple interest for 1 year
here simple interest is 9520 for 4 year
9520/4 = 2380 (1 year)
Simple interest = PNR/100
N = 1 , R = 9, P = x, simple interest = 2380
2380 = x(9)(1)/100
x= 238000/9
The sum is 26444.40