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:

Maths-

General

Easy

Question

Hint:

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.