Maths-

General

Easy

Question

# The simple interest on a certain sum of money is Rs 1480 for 2 years at 10% per year. Find the sum of money.

Hint:

### Use the formula for simple interest and then find the principal amount.

## The correct answer is: 7400 Rupees

### Complete step by step solution:

Let the sum of money = P

We calculate simple interest by the formula,…(i)

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

Here, we have T = 2,R = 10%, SI = 1480 and P = ?

On substituting the known values in (i), we get

Hence the sum of money P = 7400 Rupees.

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