Question

A certain sum of money amounts to rs20,160 in 5 years at 8% interest .Find the principal.​

Answer 1

GivEn:

• A certain sum of money amounts to rs20,160 in 5 years at 8% interest.

To find:

• Principal?

Solution:

☯ Let principal be P rs.

We know that,

★ A - P = I

Here,

• I = PTR/100
• A = 20,160

Therefore,

⇒ 20160 - P = P × 5 × 8/100

⇒20160 - P = 40P/100

⇒20160 = 2P/5 + P

⇒20160 = 2P + 5P/5

⇒20160 = 7P/5

⇒20160 = 7P/5

⇒20160 × 5 = 7P

⇒100800 = 7P

⇒P = 100800/7

⇒P = 14400

∴ Hence, Principal is 14400 rupees.