radomes.openskiesproject.org
max38 max38
  • 14-12-2015
  • Mathematics
Answered

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

Verified Answer :

taskmasters
taskmasters taskmasters
  • 14-12-2015

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.

Answer Link

Related Questions

how was the roman legislative branch organized
An 8 sided die is tossed Determine the odds against rolling an 8
which is the best example of technological design
George Bernard Shaw criticized the importance of being earnest fora being too longb not being funnyc not having any real substance
Which statements are true about the expansion of the United States between 1789 and 1850 Choose all answers that are correct A A belief in Manifest Destiny was
solve this equation 0302x
How would we rewrite the equation of y 13x 10 if we moved its graph down six units
How do you solve the answer to this 632
angles RST are in the ratio 249 what are the measures of the angles
How did rationing support the war effort in ww2