Question

If a principal becomes amount of Rs. $14500$ at $14\left(\frac{2}{7}\right)\%$ rate of interest in $3$ years at simple interest. Find the S.I on principal.

Answer 1

$R=14\left(\frac{2}{7}\right)$% = $\frac{100}{7}$%= $\frac{100}{7\times 100}=\frac{1}{7}$

SI remains same in all years

So, $P\left(7\right)+1+1+1=10\left(A\right)$

$10-7=3.SI$

For 10 years = Rs 14500 (given)

For 1 year = Rs $\frac{14500}{10}=Rs1450$

For 3 years = S.I on principal

$=Rs1450\times 3$

$=Rs4350$