On a certain sum the interest paid after 3yearsis450at5%rateofinterestperannum. Find the sum.
Find the sum:
As it is Given that,
On a certain sum, the interest is paid after 3yearsis450at5%rateofinterestperannum.
Here, Rate=5%,Time=3years,Intrest=Rs450
We know that,
Intrest=Principal×Rate×Time100⇒450=P×5×3100⇒450×100=15×P⇒P=4500015=3000
Hence, the sum i.e. Principal is Rs3000.
If the compound interest is equal to 5 times the simple interest on a certain sum after two years, find the rate of interest?