Question

Find the sum of money that amounts to $ 992 in 4 years at 5% per annum .

Answer 1

Answer:

Let the sum be 100

Interest =P*R*T/100 = * 4*6/100=24

amount =P+I

100+24

when A =124 P=100

When A=992 P=100/124=800

Step-by-step explanation:

Answer 2

GIVEN :-

• Amount (A) = $ 992
• Time (T) = 4 years.
• Rate (R) = 5 % P.A

TO FIND :-

• Principal (P)

SOLUTION :-

Let the principal be x

➠ S.I = (P × R × T)/100

➠ (x × 5 × 4)/100

➠ 20x/100

➠ S.I = x/5 -------------------(1)

Amount = P + S.I

➠ $ 992 = x + x/5

➠ 992 = (5x + x)/5

➠ 992 = 6x/5

➠ x = (992 × 5)/6

➠ x = 4960/6

➠ x = 826.66

Hence principal is $ 826.66 (approx)

S.I = x/5

➠ 826.66/5

➠ S.I = $ 165.33 (approx)

VERIFICATION :-

➠ Amount = P + S.I

➠ $ 992 = $ 826.66 + $ 165.33

➠ $ 992 = $ 991.99

➠ $ 992 = $ 992

L.H.S = R.H.S

HENCE VERIFIED.