Question

A certain sum of money amounts to rs. 10080 in 5 years at 8%. find principal

Answer 1

let the interest be x and p=amount-interest

Answer 2

Answer:

Principal Amount = Rs. 7200

Step-by-step explanation:

Let Principal be Rs. x

Amount = Rs. 10080

Amount = Principal + Interest

Interest = 10080 - x

$\text{Simple Interest = }\frac{Principal\times Rate\times Time}{100}\\\\\implies 10080 -x=\frac{x\times 8\times 5}{100}\\\\\implies 1008000-100\cdot x=40\cdot x\\\\\implies 140\cdot x=1008000\\\\\implies x=7200$

Hence, Principal Amount = Rs. 7200