Question
If a sum earns Rs. 7,200 as simple interest at the rate of
20% p.a. for 3 years and 3 months, calculate the original sum.Solution
ATQ,
Let the invested amount be Rs. ‘P’.
Time = 3 years + 3 months = 39 months
Simple Interest = P × rate × time ÷ (100 × 12)
⇒ 7200 = P × 20 × 39 ÷ (100 × 12)
⇒ P = 7200 × (1200 ÷ 780)
⇒ P = 7200 × (40 ÷ 26) = 11076.92
So, invested sum = Rs.11,076.92
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