Question

what sumof money at 3.5% per month simple intrst will earn an intrst of rs567 in 1 yaer 6 months?

Answer 1

Answer:

I(Interest)- P(Principal)T(Time)R(Rate of Interest)/100

Here, I = 567.00

P= ?

T= 1 yr 6 months i.e 1 1/2 i.e 3/2 or say 1.5

R = 3.5

Now put the figure in formula :

Here we have to find the P

So, formula will be -> P=I * 100/TR

=>P=567*100/1.5*3.5

=>P=56700/5.25=10800.00

You can cross check the answer -> 10800*3.5%*1.5 = 567.00

So the Sum of Money is Rs.10800.00

Thanks

Step-by-step explanation: