Question

Find sum of which will amount to 700 in 5 years at 8% p.a

Answer 1

let sum be x
then
x(1+8*5/100)=700
or x=70000/140
or x=500...........(ans)

Answer 2

Amount=principle+Interest

I=ptr/100

700=P+I

700=P+(P*5*8)/100

from this we get p=500/- which is sum