Question

A certain sum of money Q was deposited for 5 year and 4 months at 4.5% simple interest and

amounted to `248, then the value of Q is
​

Answer 1

Answer:

Amount = principle + simple interest

A= p+ PRT

100

A= p (1+Rt ).... Eq 1

100

P=Q

R=4.5

T=5+4/12=16/3

Substitute values in Eq 1 to find Q

248= Q ( 1+4.5×16\3)

100

248= Q ( 1+ 24)

100

248= 1.24 Q

Q= 200