• Math

  simple interest

  Posted by Kidpid Team on February 23, 2024 at 6:02 pm

  Given that simple interest on a certain sum of money is Rs. 4016.25 at 9% per annum in 5 years. Find the sum of money.

  brajesh replied 1 year, 1 month ago 2 Members · 1 Reply

  • math
  • simple interest
• 1 Reply

• 

  brajesh

  Member

  March 1, 2024 at 3:05 pm

  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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