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Question

If on a certain sum, the interest paid after \(3\) years is \(Rs.\ 450\) at \(5\% \) of interest per annum, find the sum.

Answer

Here, S.I. \(=Rs.\ 450\)
Rate \(=5\% =\frac {5}{100}\) p.a.
Time \(=3\) years
Principal \(=\frac {S.I.}{R\times T}=Rs.\ \frac {450\times 100}{5\times 3}\) [\(R=\frac {5}{100}\) p.a.]
\(=\ Rs.\;(30\times 100)\)
\(=Rs.\;3000\)
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