Ask Question
21 December, 21:04

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

+5
Answers (1)
  1. 21 December, 23:12
    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 $400.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What sum would yield an interest of 36$ in 3 years at 3%p. a. ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers