Question

a man wants to accumulate capital worth rs 50440 at the end of 3 years at the rate of 5 percent investing an equal amount..find the amount invested

Answer 1

let the principle amount(P) be x, than,
Simple Interest(SI) =x*3*5/100
∴SI=3x/20

Final amount(Amt)= P+SI
50440=x+3x/20
50440=23x/20
x=50440*20/23

x(Principle)=43860.87 ruppes approx

Hope this helps and also tell me if correction needed