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Activity Discussion Math simple interest Reply To: simple interest

  • brajesh

    Member
    March 1, 2024 at 3:05 pm
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    ::

    Simple Interest = (Principal Amount) x (Rate) x (Time)

    In this case, we know the simple interest is Rs. 4016.25, the rate is 9% per annum, and the time is 5 years. Let’s substitute these values into the formula and solve for the principal amount:

    4016.25 = (Principal Amount) x (0.09) x (5)

    Now, let’s solve for the principal amount:

    4016.25 = 0.45 x (Principal Amount)

    Dividing both sides of the equation by 0.45:

    (Principal Amount) = 4016.25 / 0.45

    (Principal Amount) = 8925

    Therefore, the sum of money is Rs. 8925.

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