Question

Find the sum of money that amounts to rs 5850 in 6 years at 5percent per annum?

Answer 1

let sum of money = x

I = P×R×T / 100

5850 - x = x×5×6 /100

5850 - x = 30x / 100

585000 - 100x = 30x

585000 = 30x + 100x

585000 = 130x

585000 / 130 = x

4500 = x

So, sum of money is Rs 4500

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