Maths-

General

Easy

Question

# If the sum of money becomes Rs. 3540 in 3 years at the simple interest rate of 6%, what was the sum of money?

Hint:

### Use the formula of total amount and from that find the principal amount.

## The correct answer is: 3000

### Complete step by step solution:

Let the sum of money = P

Formula for total amount = A = P + S.I,

where A is the total amount, P is the principal amount and SI is simple interest .

We know that

So, …(i)

It is given that A = 3540,T = 3 and R = .

On substituting these values in (i) we get,

On further simplifications, we get .

On multiplying 100 on both the sides, we get 354000 = 118P.

Divide on both sides by 118.

On dividing, we get P = 3000

Hence Rs 3000 was the sum of money.

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