Question

what sum will earn an interest of rs.480 in 2yrs 6 month at the rate of 3 % per annum simple interest

Answer 1

Given,
simple interest(I) = rs 480
rate (R) = 3 %
Time period(T) = 5/2 years
Principal(P)= ?= P
P=I * 100/R * T
P=480*100*2/3*5
=Rs. 6400
so the sum is rs. 6400
hope it helps you.

Answer 2

Answer:

The principal is Rs. 6400.

Step-by-step explanation:

Let the principal be P.

Rate of interest is 3%

Time is 2 years 6 months. It means 2.5 years.

Formula for simple interest:

$I=\frac{P\times r\times t}{100}$

Where, P is principal, r is interest rate, t is time in years.

$480=\frac{P\times 3\times 2.5}{100}$

$48000=7.5P$

Divide both sides by 7.5.

$6400=P$

Therefore the principal is Rs. 6400.