Question

A man deposits a sum with a Bank at 12% simple interest per annum. On his request made after
5 years, he is paid back Rs 13,440. How much sum was deposited by him ​

Answer 1

Answer:

13440/60*100 = 8400 its right answer

Answer 2

The sum was deposited by him = Rs 8400 .

Explanation:

Formula to calculate the simple interest = $I=\dfrac{P\times R\times T}{100}$

As per given :

Let P be the principal amount deposited by him ​.

r = 12%

T= 5 years

Here , $I=\dfrac{P\times 12\times 5}{100}=0.6 P$

P + I = Rs 13,440

$\Rightarrow\ P+0.6 P=13440\\\\ 1.6 P =13440\\\\ P=\dfrac{13440}{1.6}=8400$

Hence, the sum was deposited by him = Rs 8400 .

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