Question

A sum when reckoned at $7\frac{1}{2}$ per annum amounts to Rs 3920 in 3 years. Find the sum.

Answer 1

Let the annum be P

A = P + SI

A = P+$\frac{PRT}{100}$

A = P$(1+\frac{15\times 3}{200})$

$\Rightarrow 3920=$P(\frac{2.45}{2})$

$\Rightarrow$ P=\frac{3920\times 2}{2.45}=3200RS