Question

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

Answer 1

Let the sum = principal =P
time =T= 3 yrs
rate of interest = R= 10%
simple interest =I= 829.50

I = PTR/100
P = (100×I)/(TR)
P =(100×829.50)/(3×10)
=82950/30
=Rs.2765
Principal = P = Rs. 2765