Question

Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if the amount beings rs 1120

Answer 1

Answer:

1000

Step-by-step explanation:

Formula: Simple Interest = (p * r * t) / 100

Let,

p = Principle

SI = 1120 - p

Then,

or, 1120 - p = (p * 5 * 12) / (100 * 5)

or, 1120 - p = (p* 12) / 100

or, 112000 - 100p = 12p

or, 112000 = 112p

or, p = 1000

Answer 2

Answer:

Required principle is 1000.

Step-by-step explanation:

We know,

Simple Interest =

$\frac{p \times r \times t}{100}$

Where p is principal, r is rate of interest, t is time

Given simple interest = 1120-p

Then,

$1120 - p = \frac{ (p \times 5 \times 12)}{100 \times 5}$

$1120 - p = \frac{(p \times 12)}{100}$

$1120000 - 100p = 12p$

$112000 = 112p$

$p = 1000$

Required principle is 1000 rupees.

Applied formula is

$simple \: interesrt \: = \frac{p \times r \times t}{100}$