Question

A sum of money is lent at simple interest for 8 years. If the same amount is paid at 5% higher, satish would have got Rs100/- more. Find the principal?

Answer 1

Answer:

Step-by-step explanation:

A sum of money is lent at simple interest for 8 years. If the same amount is paid at 5% higher, Satish would have got Rs 100/- more. Find the principal?

Let the Principal be Rs. P

Let the first rate of interest be r

The difference in r is 5

5 x P x N = (Difference in interest) x 100

5 x P x 8 = 100 x 100

p = 100 x 100 / 5 x 8

= Rs. 250