Question

what sum will earn a interest of rupees 480 in 5/2 years at the rate of 3% per annum simple interest

Answer 1

Given that,
Simple interest = 480 rupees
Rate of interest = 3%
Time = 5/2 years
Using the formula,
SI = (PTR) /100
P =( SI ×100) / TR
P= (480×100×2) / (5×3) = 6400 rupees.

I hope this answers your question sufficiently. Happy learning.

Answer 2

Given,

An interest of rupees 480 in 5/2 years at the rate of 3% per annum simple interest.

To Find,

Sum =?

Solution,

We can solve the question as follows:

It is given that we have to find what sum will earn an interest of rupees 480 in 5/2 years at the rate of 3% per annum simple interest. Hence, we have to find the principal amount.

$Simple\: interest = Rs.\: 480$

$Time = \frac{5}{2} \: years$

$Rate = 3$%

$Principal\: amount =?$

The formula for finding the simple interest is given as:

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

Substituting the given values in the above formula,

$480 = \frac{Principal*3*\frac{5}{2} }{100}$

Solving the above equation to find the principal,

$480*100 = Principal*3*\frac{5}{2}$

$48000 = Principal*3*\frac{5}{2}$

$Principal = \frac{48000*2}{15}$

$Principal = Rs.\: 6400$

Hence, the sum is equal to Rs. 6400.