Question

find the sum which will amount to 700 in 5 years at 8% p a

Answer 1

Amount is rs 700

time is 5 years

rate is 8%pa

let the principal be rs 100

Then SI=PRT/100

100×8×5/100=rs 40

Amount = P+SI=rs (100+40)=rs 140

ATQ,

if amount is rs 140, then principal is rs 100

if amount is rs 1, then the principal is rs 100/140

if the amount is rs 700, then the principal is rs 100/140×700=rs 500

Thus, the sum is rs 500