Anil invested an amout for the three year at a simple interest rate 9% per annum. He got an amount of 19,050 at the end of the three years. What principal amount did he invest1450011050144015000Required
Question
Anil invested an amout for the three year at a simple interest rate 9% per annum. He got an amount of 19,050 at the end of the three years. What principal amount did he invest1450011050144015000Required
Solution
To find the principal amount that Anil invested, we can use the formula for simple interest:
Simple Interest = (Principal Amount) x (Rate) x (Time)
Given that Anil received an amount of 19,050 at the end of three years and the interest rate is 9% per annum, we can substitute these values into the formula:
19,050 = (Principal Amount) x 0.09 x 3
Now, let's solve for the Principal Amount:
19,050 = (Principal Amount) x 0.27
Dividing both sides of the equation by 0.27:
(Principal Amount) = 19,050 / 0.27
Calculating this, we find:
(Principal Amount) = 70,555.56
Therefore, Anil invested a principal amount of 70,555.56.
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