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16 January, 08:12

What principal amount would yield an interest of $36 in 3 years at 3%?

P=

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  1. 16 January, 11:44
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    Answer: Let principle sum be x

    Time = 3 years

    Rate = 3% per annul

    SI = $36

    SI = / frac{P*R*T}{100}

    36 = / frac{x*3*3}{100}

    x = 36 * / frac{100}{9}

    x = 400

    So the sum that would yield interest of $36 is $400
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