Question

a sum of money invested at 14 % per annum amounted to rupees 10400 in 5 years calculate the principal what will it amount to be in a 8 year at the same rate of interest

please ans correctly please........​

Answer 1

Answer:

We have the formula for Amount in simple interest,

A=P(1+rt)

Given, A=10400, t=5, r=14%=0.14

∴10400=P(1+5(0.14))

10400=P(1+0.7)=P(1.7)

P=

1.7

10400

=6117.647.6

Principal amount is Rs. 6117.65