The sum of money that will produce ₹1770 as simple interest in 7.5 year as 8% at per annum is how much
A*0.08*7.5 = 1770
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To find the sum of money that will produce ₹1770 as simple interest in 7.5 years at 8% per annum, we can use the formula for simple interest:
Simple Interest = ( Principle * Rate * Time ) / 100
In this case, the principle (sum of money) is what we need to find.
Rearranging the formula to solve for the principle, we have:
Principle = (Simple Interest * 100) / (Rate * Time)
Plugging in the given values:
Simple Interest = ₹1770
Rate = 8%
Time = 7.5 years
Converting the rate from a percentage to a decimal, we get:
Rate = 8/100 = 0.08
Substituting the values into the formula:
Principle = (1770 * 100) / (0.08 * 7.5)
Principle = 221250 / 0.6
Principle = ₹ 368750
Therefore, the sum of money that will produce ₹1770 as simple interest in 7.5 years at 8% per annum is ₹368750.