Ask Question
31 May, 04:05

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

+4
Answers (1)
  1. 31 May, 08:03
    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 $400.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What sum would yield an interest of 36$ in 3 years at 3%p. a. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers