Question

on the try these question: on certain sum the interest paid after 3 years is Rs450 at rate of 5% rate of interest per annum . find the sum.

in this question I got the answer as I found the principal, Rs3000. I am having a doubt whether we have to find amount as they are asking to find the sum?

Answer 1

Answer :

In these type of question some tme there is given as in our equation " sum of money " or " find the sum " .

That means principle amount in our question .

we know formula for simple interest

Simple interest = $\frac{p\times r\times t}{100}$ , So here

450 = $\frac{p\times 5\times 3}{100}$

So,

p = Rs. 3,000 , So

Sum of money = Rs 3000 ( Ans )