Question

A sum of money amounts to Rs. 1500 in 5 years at 10% per annum at simple interest. Find the sum. *

Answer 1

Answer:

750

Step-by-step explanation:

P = 1500

R = 10%

T = 5yrs

SI = PXRXT/100

  = 1500 X 10 X 5/ 100

  = 750

Hence, SI = 750

Answer 2

Answer:

The initial sum of money is $1000$ rupees.

Step-by-step explanation:

Given a certain sum of money amounts to Rs. $1500$ in five years at $10\% \ p.a$ simple interest . We want to calculate the initial money.

Under simple interest, we have the formula

$I=PNR/100$ ,

and $A=P+I$

Where $I$  is interest

   $P$ is the principal (initial sum of money)

   $N$ number of years  $=5$

   $R$  rate of interest    $=10$

   $A$  amount (final sum of money)   $=1500$

Substituting in the equations,

$I=P(5)(10)/100=50P/100$

[tex]1500=P+I\\ [/tex]

       [tex]=P+50P/100\\ \\ =150P/100[/tex]

$1500*\frac{100}{150} =P$

That is $P=1000$

Hence the answer.

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