Question

A sum fetched a total simple interest of Rs. 929.20 at the rate of 8 p.c.p.a. in 5 years. What is the sum?

Answer 1

Given:

SI = Rs. 929.20

T = 5 years

R = 8%

P = ?

We know that:

$\huge\boxed{\sf{P = \frac{100 \times SI}{RT}}}$

Substituting the values,

We get:

$\implies$ 100 × 929.20 / 8 × 5

$\implies$ 92920 / 40

$\implies$ Rs. 2323

Final answer: Rs. 2323

Answer 2

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