Question

What principal amount would yield an interest of $36 in 3 years at 3%?
P=

Answer 1

Answer: Let principle sum be x

Time = 3 years

Rate = 3% per annul

SI = $36

SI = \frac{P*R*T}{100}

36 = \frac{x*3*3}{100}

x = 36* \frac{100}{9}

x = 400

So the sum that would yield interest of $36 is $400

Explanation: