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ICSE Class 7 Answered

find the sum which will amount to rs 700 in five years at 8%pa
Asked by shirdhankarc | 19 Jan, 2019, 07:12: PM
Expert Answer
Considering simple interest
A = Rs. 700, n = 5 years, r = 8% p.a.
SI = 700 - P
700 - P = begin mathsize 16px style straight P cross times straight n cross times straight r over 100 end style
begin mathsize 16px style straight P cross times 5 cross times 8 over 100 equals 700 minus straight P 0.40 straight P equals 700 minus straight P 1.40 straight P equals 700 straight P space equals space Rs. space 500 end style
Answered by Sneha shidid | 21 Jan, 2019, 12:48: PM

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