The sum of money produce 1770 as simple interest 15/2 y as 8%annum
Hard to say, but I think you want P such that
P*.08*15/2 = 1770
To find the principal sum of money that produces a simple interest of 1770 over a period of 15/2 years at an annual interest rate of 8%, we can use the formula for calculating simple interest:
Simple Interest = (Principal) x (Rate) x (Time)
Given:
Simple Interest = 1770
Rate = 8% per annum (or 0.08 as a decimal)
Time = 15/2 years
Let's plug in the values into the formula and solve for the Principal:
1770 = Principal x 0.08 x (15/2)
First, simplify the fraction:
15/2 = 7.5
Now, let's solve for the Principal by rearranging the formula:
Principal = Simple Interest / (Rate x Time)
Plugging in the values:
Principal = 1770 / (0.08 x 7.5)
Simplifying further:
Principal = 1770 / 0.6
Principal = 2950
Therefore, the principal sum of money is 2950.