Question

What sum will yield an interest of $Rs.7840$ in $2$ years at $6\frac{1}{4}$ per annum?

Answer 1

The simple interest is given as $Rs7840$ in $2$ years at the rate of $\frac{25}{4}\%$.

$S.I.=\frac{P\times R\times T}{100}$

$7840=\frac{P\times 25\times 2}{4\times 100}$

$P=\frac{7840\times 4\times 100}{25\times 2}$

$P=Rs62720$