Find the principal. Annual rate of interest = 11 \%=11%equals, 11, percent Period = 3=3equals, 3 years Total interest = 825=825e
quals, 825 rupees Principal ==equals rupees
1 answer:
Answer:
Principal = 2,500 rupees
Step-by-step explanation:
The interest or simple interest is the extra money gained on n invested amount of money yielding a certain percentage interest at a time (t) in years
The formula for simple interest is given as follows:
I = P × R × T
where:
I = interest = 825 rupees
P = principal
R = interest rate = 11% = 11/100 = 0.11
T = time = 3 years
∴ 825 = P × 0.11 × 3
825 = P × 0.33
P = 825 ÷ 0.33
P = 2,500 rupees
This means that 2,500 rupees was invested to saved to yield an interest of 825 rupees after 3 years at a rate of 11% per year
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