Question

Find the sum of money that will amount to Rs 5105 in 61/2 years at 41/4% per cent per annum simple interest. *​

Answer 1

Answer:

The sum of money is Rs. 987.75.

Step-by-step explanation:

The  amount is, A = Rs. 5105

Time is, 61/2 years.

Interest rate is, 41/4%.

Compute the principal as follows:

$5105-P=\frac{P\times 61\times 41}{2\times 4\times 100}\\5105-P=\frac{2501P}{600}\\3063000-600P=2501P\\3101P=3063000\\P=987.75$

Thus, the sum of money is Rs. 987.75.