Question

A sum of money amounted to Rs.1600 at 12% per annum in 5 years. Find the sum.

pls fast ..

Answer 1

Step-by-step explanation:

Let the sum of money be x.

Rate of interest=5%

Time=10 years

So simple interest for 10 years on the sum of money x at 5% per annum will be,

5*10*x/100= x/2

Now, sum of money+simple interest=1600

So, x+x/2=1600

Or, 3x=3200

Or, x=3200/3