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Bank Passbook and Its Components

The simple in...

Question

The simple interest on a certain sum for 3 year at 10%per annum is ₹829.50.Find the sum

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Solution

Let the sum be P
Simple Interest = Rs.829.50
Time = 3 years
Rate of interest = 10%

S.I = PRT/100
829.50 = P X 10 X 3 /100
82950/100 = P X 10 X 3/100
82950 = 30P
P = 2765

The sum is Rs 2765

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