Question

what sum would yield an interest of $ 36 in 3 years at 3%p.a.?​

Answer 1

Answer:

$ 400

Step-by-step explanation:

Assuming the interest is calculated at simple interest.

Given:- Rate(R) = 3% p.a.

Time(T) = 3 years

Interest(S.I.) = $ 36

To find :- Principal Amount (P)

Solution:-

Let the principal amount (P) be x

As we know,

S.I. = (P* R*T)/100

36 = (x *3*3)/100

36 * 100 = x*9

3600/9 = x

400 = x

Hence, the principal amount is $ 400.