Simple Interest Practice Test 3

Question : 16 of 40

Marks: +1, -0

If a sum produces an interest of Rs 4.5per day, then find the sum lent at 9% per annum.

Solution:

SI for one day = Rs 4.5
So, SI for one year = Rs (4.5 × 365) = Rs 1,642.50

∴P={100×SI}/{R×T}

={100×1642.5}/{9×1}=18250

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