Question

Find the sum of money that amounts to ₹5850 in six years at 5 % per annum.

Answer 1

Amount = 5850

Let principal = x

Simple Interest = Amount - principal = (5850 - x)

Now, SI = P.R.T / 100

(5850 - x) = x * 5 * 6 / 100

(5850 - x) = 3x/10

5850 = 3x/10 + x

13x/10 = 5850

x = 58500/13

x = 4500

Hence our principal is 4500