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VLD [36.1K]
3 years ago
7

Find the sum that amounts to Rs 9,144 in 3 years at 9% per year simple interest.​

Mathematics
1 answer:
Hunter-Best [27]3 years ago
8 0

Given:

Amount = Rs. 9,144

Time = 3 years.

Rate of simple interest = 9%

To find:

The principal value.

Solution:

The formula for simple interest is:

I=\dfrac{P\times r\times t}{100}

Where, P is principal, r is the simple rate of interest, and t is the number of years.

Putting r=9,t=3 in the above formula, we get

I=\dfrac{P\times 9\times 3}{100}

I=\dfrac{27P}{100}

I=0.27P

We know that,

\text{Amount}=\text{Principal + Interest}

9144=P+0.27P

9144=1.27P

Divide both sides by 1.27, we get

\dfrac{9144}{1.27}=P

7200=P

Therefore, the principal value is Rs. 7200.

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