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Find out the sum of money which produces Rs. 24630 interest in 4 years and 4 months at 3.5% p.a. simple interest?

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Find out the sum of money which produces Rs. 24630 interest in 4 years and 4 months at 3.5% p.a. simple interest?
posted Dec 15, 2020 by Balwinder

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1 Answer

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Rs. 162520.62


Time = 4 years 4 months = 4 4/12 years = 4.33 years
Interest rate = 3.5%
Interest amount = Rs. 24630
Sum of money is x


x * 4.33*0.035 = 24630
x * 0.15155 = 24630
x = 24630/0.15155
x = 162520.62

answer Dec 15, 2020 by Hanifa Mammadov
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