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Maths-

General

Easy

Question

Find the sum which will amount to Rs. 364.80 at 3 $1 half$ % per annum in 8 years at simple interest

hint Hint:

Use the formula of total amount and proceed.

The correct answer is: Rs 285.

Complete step by step solution:
Let the sum of money = P
We know the formula for total amount = A = P + SI
where A is the total amount, T is the principal amount and R is simple interest.
We know that $S I equals fraction numerator P T R over denominator 100 end fraction$
where P is Principal amount, T is number of years and R is rate of interest
So, $A equals P plus fraction numerator P T R over denominator 100 end fraction$ …(i)
Here, we have $A equals 364.80 comma T equals 8 comma R equals 3 1 half equals 3.5 straight percent sign text and end text P equals ?$
On substituting these values in (i), we get $364.80 equals P plus fraction numerator p cross times 8 cross times 3.5 over denominator 100 end fraction$
On further simplifications, we get $364.80 equals P plus.28 P$
$table attributes columnspacing 1em end attributes row cell not stretchy rightwards double arrow 1.28 P equals 364.80 end cell row cell not stretchy rightwards double arrow P equals R s 285 end cell end table$
Hence the sum of money P = Rs 285.

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