What sum of money lent out at 5% per annum produces Rs.300 as interest in 3 years
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What sum of money lent out at 5% per annum produces Rs.300 as interest in 3 years
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Answer :
Step-by-step explanation ::
To Find :-
Given that,
Solution :-
As we know that,
[tex] \boxed{\bf{Principal = \dfrac{Simple \: Interest \times 100}{Rate \times Time}}}[/tex]
Where,
According the question,
[tex]\sf{ \longmapsto \: Principal = \dfrac{300 \times 100}{5 \times 3}} \\ \\ \\ \sf{ \longmapsto \: Principal = \dfrac{300 \times 100}{15}} \\ \\ \\ \sf{ \longmapsto \: Principal = \dfrac{ \cancel{300} \times 100}{ \cancel{15}}} \\ \\ \\ \sf{ \longmapsto \: Principal = 20 \times 100} \\ \\ \\ \bf{ \longmapsto \: Principal = 2000}[/tex]
Additional information
Some important formulas related to Simple interest :-
[tex]\sf{ \bull \: \: \: \: \: Rate = \dfrac{Simple \: Interest \times 100}{Principal \times Time}} \\ \\ \\ \sf{ \bull \: \: \: \: \: Time = \dfrac{Simple \: Interest \times 100}{Principal \times Rate}} \\ \\ \\ \sf{ \bull \: \: \: Principal = \dfrac{Simple \: Interest \times 100}{Rate \times Time}} \\ \\ \\ \sf{ \bull \: \: \: Simple \: Interest = \dfrac{Principal \times Rate \times Time}{100}}[/tex]
[tex]\huge\sf{\underline{Question}} :[/tex]
What sum of money lent out at 5% per annum produces Rs 300 as interest in 3 years.
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[tex]\large\bf{\underline{To \: find}}:[/tex]
[tex]\large\bf{\underline{Given}} \: –[/tex]
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[tex]\huge\bold{\underline{\underline{Solution}}} :[/tex]
Here, we have to find the sum of money or the 'principal'.
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We know that,
[tex] \orange{\boxed{\sf{ P=\frac{S.I × 100}{R × T} }}}[/tex]
where,
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Acc. to the question,
[tex] \sf P = \frac{S.I × 100}{R × T} \\ \\ \implies \sf P = \frac{ 300 \times 100}{5 \times {3}} \\ \\ \implies \sf P = 100 \times 20 \\ \implies \green{\boxed{ \bf P = 2000}}[/tex]
∴ The sum of money lent was Rs 2000.
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✍️ Relatable Formulae :-
[tex]\begin{gathered} \sf{ \bull \: \: \: Simple \: Interest = \dfrac{Principal \times Rate \times Time}{100}}\end{gathered} \\ \\ \\ \sf{ \bull \: \: \: Principal = \dfrac{Simple \: Interest \times 100}{Rate \times Time}}\\ \\ \\\sf{ \bull \: \: \: \: Rate = \dfrac{Simple \: Interest \times 100}{Principal \times Time}} \\ \\ \\ \sf{ \bull \: \: \: Time = \dfrac{Simple \: Interest \times 100}{Principal \times Rate}}[/tex]
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