Maths-
General
Easy
Question
What sum will yield an interest of Rs. 277.50 for 3 years at 12% per annum?
Hint:
Use the formula of simple interest and solve.
The correct answer is: 770.83 Rupees.
Complete step by step solution:
Let the sum of money = P
We calculate simple interest by the formula, 
where P is Principal amount, T is number of years and R is rate of interest
Here, we have 
and P = ?
On substitution, we have 
On further simplifications we have,36P = 27750
Divide on both the sides by 36.
On dividing, we get P = 770.83 Rupees.
Hence the sum of money = P = 770.83 Rupees.
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