A certain sum of money at s.i amounts to 500 in 3 years and 600 in 5 years what is the principal
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Answer:
RS 250
Step-by-step explanation:
Given:
A sum becomes Rs. 500 in 5 years
A sum becomes Rs. 600 in 7 years
Concept used:
SI = PRT/100
P → principal r → rate of interest
Calculation:
Interest in 2 years = Amount after 7 years - amount after 5 years = 600 – 500
Interest in 2 years = 100
⇒ Interest in 5 years = 100/2 × 5 = Rs. 250
Amount = Principal + interest
⇒ 500 = Principal + 250
⇒ Principal = 250
∴ The sum is Rs. 250
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