Question 88

What sum will yield Rs.540 as Simple Interest at 4% for 7.5 years?

Solution

SI = $$ \frac{PNR}{100} $$

$$ 540 = \frac{P \times 7.5 \times 4}{100} $$

$$ P = \frac{540 \times 100}{4 \times 7.5} $$

solving P =1800

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