Q4 of 7 Page 171

A sum amounts to Rs. 3605 in 219 days at 5% per annum. What will be the sum?

We have,



Where,


P is the principal (in Rs)


T is the time (in years)


R is the rate of interest (in % per annum)


Given: Amount = Rs. 3605


Time (T) = 219 days


Rate of interest (R) = 5% per annum


Let the sum (P) be Rs. x.


Here, we have T in days. So, we need to convert to years.



So,




We have Amount = Principal + Interest


⇒ 3605 = x + 0.03x


⇒ 1.03x = 3605



Thus, the sum is Rs. 3500.


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