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Mila [183]
3 years ago
8

What sum would yield an interest of 36$ in 3 years at 3%p.a.

Mathematics
1 answer:
Alekssandra [29.7K]3 years ago
7 0
Amount of Interest = $36
Rate of interest = 3% per annum
Total time period for which the money was invested = 3 years
Let us assume the Principal amount = x
Then
Interest = Principal * Rate of Interest * time
36 = x * 3% * 3
36 = 9x/100
36 * 100 = 9x
3600 = 9x
x = 3600/9
   = 400
So the initial sum of the money that was invested was $400.
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