A man earns ₹44,250 as an interest in 3 years on a certain sum invested with a company at the rate of 10 percent per annum at simple interest. Find the sum invested by the man in the company.

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Question

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SSC GD Constable Memory Based Test (17 Jan 2023 Shift 1)

Answer 1

Given:

At the rate of 10% per annum, a man earns ₹44,250 as interest in 3 years.

Concept used:

Simple interest = (P × t × r)/100

Where, P = principal, t = time, r = rate of interest.

Calculation:

⇒ \(\frac{P× 3×10}{100}\) = 44250 [ here, r = 10%, t = 3 years ]

⇒ P = \( \frac{44250× 100}{3× 10}\)

⇒ P = 147500

∴ The sum invested by the man in the company is 1,47,500.