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 was deposited by him?
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Answer 1

Step-by-step explanation:

Let the principal be p

SI =( p×12×5 ) ÷ 100

= 3p/5

Amount = p+3p/5

8p/5

therefore,

8p/5 = 13400

p= 8375

Answer 2

RATE=12%

TIME=5 YEARS

AMOUNT=RS 13440

Let the principal be p.Then,

Si=(p×t×r)/100

=(p×5×12)/100

=60p/100

=3p/5

Amount=Principal + SI

AMOUNT AS GIVEN IS =RS 13440

SO,

p+3p/5=13440

=>(5p+3p)/5=13440

=>8p=13440 × 5

=>p=(13440 × 5)/8

=>p=8400

HENCE,PRINCIPAL =RS 8400