Simple Interest Practice Test 3

Question : 33 of 40

Marks: +1, -0

If a sum produces an interest of Rs 3 per day, then find the sum lent at 6% per annum.

Solution:

SI per day = Rs 3
SI for 1 year = Rs (3 × 365) = Rs 1,095
Rate = 6%

∴P={100×SI}/{R×T}

={100×1095}/{6×1}=18250

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