Question

A sum when reckoned at $6\%$ per annum simple interest amounts to $Rs.4130$ in $3$ years. Find the sum,

Answer 1

The amount is given as $Rs4130$ at the rate of $6\%$ per annum in 3 years.

It is known that,

$S.I.=Amount-Principle$

$S.I.=4130-P$ (1)

And,

$S.I.=\frac{P\times R\times T}{100}$

$S.I.=\frac{P\times 6\times 3}{100}$ (2)

From equation (1) and (2),

$4130-P=\frac{P\times 6\times 3}{100}$

$4130=\frac{18P}{100}+P$

$4130=\frac{18P+100P}{100}$

$413000=118P$

$P=\frac{413000}{118}$

$P=Rs3500$