a certain sum of money will amount to rupees 10000 at the rate of 8% per annum simple interest at the end of 5 years. find the money.

Asked by anikbaviskar79.7spicertl | 28th Oct, 2020, 07:56: PM

Expert Answer:

Given: Rate R = 8%, Time T = 5 years, Amount = Rs. 10000
Let the sum of money be Rs. P
We know that,

S. I. equals A minus P
rightwards double arrow A equals S. I. plus P equals fraction numerator P cross times T cross times R over denominator 100 end fraction plus P
rightwards double arrow 10000 equals P open parentheses 1 plus fraction numerator 5 cross times 8 over denominator 100 end fraction close parentheses
rightwards double arrow 10000 equals P open parentheses 7 over 5 close parentheses
rightwards double arrow P equals 7142.85

Answered by Renu Varma | 29th Oct, 2020, 10:44: AM