Maths-

General

Easy

Question

# What sum will yield an interest of Rs. 277.50 for 3 years at 12% per annum?

Hint:

### Use the formula of simple interest and solve.

## The correct answer is: 770.83 Rupees.

### Complete step by step solution:

Let the sum of money = P

We calculate simple interest by the formula,

where P is Principal amount, T is number of years and R is rate of interest

Here, we have and P = ?

On substitution, we have

On further simplifications we have,36P = 27750

Divide on both the sides by 36.

On dividing, we get P = 770.83 Rupees.

Hence the sum of money = P = 770.83 Rupees.

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