What sum (in ₹) will earn a simple interest of ₹1,320 in 3 years at 16% per year rate of interest?
2,750
Using \(SI = \dfrac{P\times R\times T}{100}\), the principal is \(P = \dfrac{SI\times100}{R\times T}\).
Substituting: \(P = \dfrac{1320\times100}{16\times3} = \dfrac{132000}{48} = 2750\).
Hence, the required sum is ₹2,750.
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Important Questions from Simple Interest
How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest ?
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The difference between the simple interest received from two banks on Rs. 500 for two years is Rs. 2.50. What is the difference between their rates?
P borrowed an amount from Q at a simple interest of 10% p.a. At the end of the year, P paid back Rs 99000 which was 90% of what she owed. How much money did P borrow?
An amount becomes Rs. 3795 in 3 years and Rs. 4537.50 in \(7 \frac{1}{2}\) years on simple interest. Find the rate of interest per annum.
