1.

3. What sum will earn an interest of 480 in 2 1/2years at the rate of 3% per annum simpleinterest​

Answer»

Hello!

Here is the answer for your question!

Question:- What SUM will EARN an interest of 480 in 2 1/2 years at the rate of 3% per annum simple interest

------------------------------------------------------------------

Answer:-

LET the principal amount be P

  • P = Principal amount
  • r = Rate = 3%
  • I = intrest = 480
  • t = Time = 2 1/2 = 2.5 years

Formula for simple intrest:-

I = P × r × t (p = principal , r = rate, t = time, I = intrest)

substituting values ;

480 = P × 3/100 × 2.5 (3% = 3/100)

480 = P × 0.075

P = 480 ÷ 0.075

P = 6400

A sum of 6400₹ will earn an intrest of 480₹ in 2 1/2 years at an intrest rate of 3% per annum

------------------------------------------------------------------

Hope this helped you with your doubt :)



Discussion

No Comment Found

Related InterviewSolutions