Question

A sum of money invested at 14% per annum amounted to rs.10400 in 5 years. Calculate the principal. What will it amount to in
8 years at the same rate of interest?
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Answer 1

A =P (1+NR/100)

10400=P(I +14x5/100)

10400=Px170/100

P = 10400x100 / 170 = 6118

principal = Rs6118

amount after 8 yrs=

6118+6118x14x8/100

=6118+6852=Rs.12970