find the sum which amounts 1460 in 4 years at 23/2
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Amount = ₹ 1460
Principal = ?
time = 4 years
Rate = 23/2 %
We can find the simple interest as
SI = PTR/100
=> SI = P×4×23/(100×2) = 23P/50
Now, Amount = Principal + SI
=> 1460 = P + 23P/50
=> 1460 = P( 1 + 23/50) = 73P/50
=> P = 1460×50/73
=> P = ₹1000
Thus, the sum is ₹1000
Principal = ?
time = 4 years
Rate = 23/2 %
We can find the simple interest as
SI = PTR/100
=> SI = P×4×23/(100×2) = 23P/50
Now, Amount = Principal + SI
=> 1460 = P + 23P/50
=> 1460 = P( 1 + 23/50) = 73P/50
=> P = 1460×50/73
=> P = ₹1000
Thus, the sum is ₹1000
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