Question

find the sum of money that amount to Rs 5850 in six years at 5% per annum

Answer 1

Let the principal be x. Interest earned in 6 years at 5% interest =principal *rate*time/100 =x*5*6/100 =0.3x . So sum of money in 6 years =₹5850 =x+0.3x => 5850=1.3x => 58500/13 = 4500 = x .So the principal or sum of money initially invested is ₹4500.