Find the principal that will yield a simple interest of Rs 9000 in 5 years at a rate of 6% per annum.

9514 1404 393

  ₹ 30000

Step-by-step explanation:

The simple interest formula is ...

  I = Prt . . . . . . principal P invested at rate r for t years

Fill in the values you know, and solve for the one you don't know.

  9000 = P(0.06)(5)

  9000/0.30 = P = 30000

The principal that will give ₹9000 in interest is ₹30000.

A =?

P= 9000

t = 5 yrs

r = 6% = 0.06

A = p(1+r)^t

A = 9000(1+0.06)⁵

A = 9000× 1.338

A = 12044 Rs.

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step-by-step explanation:

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of