Question

A certain sum of money amount to rs 880 in 2 year at the annual rate of 5% simple interest. Find the sum

Answer 1

Answer:

Rs 800

Step-by-step explanation:

When Amount, Rate of interest and Time is given, we can easily find the Principal by using the formula: P = (Ax100)/(100+TR)

Here,

Amount(A) = Rs 880

Rate(R) = Rs 5%

Time(T) = 2 years

We know,

P= (A×100)/(100+TR)

or, P = Rs 800

Sum is Rs 800.

Answer 2

Answer:

Rs 800

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Step-by-step explanation:

Principle / Sum = P

Interest = P*5*2/100 = 0.1P

total amount = P + 0.1P = 1.1P

1.1 P = 880

P = 800