NCERT Exemplar Solutions
Class 7 - Mathematics - Unit 7: Comparing Quantities - Problems and SolutionsQuestion 127
Class 7 - Mathematics - Unit 7: Comparing Quantities - Problems and Solutions
Question. 127
What sum of money lent out at 16 per cent per annum simple interest would produce ₹ 9600 as interest in 2 years?
Answer:
The sum of money = ₹ 30,000
Detailed Answer with Explanation:
Using SI formula: SI = (P × R × T)/100.
9600 = (P × 16 × 2)/100.
P = (9600 × 100) / 32 = ₹ 30,000.