Question

How much amount should I invest to receive an amount of Rs.100 as simple interest every
month at the rate of 5pcpa?
IS​

Answer 1

Answer:

Amount x 1/12 x 5/100 = 100

Amount x 1/240 = 100

Amount = 100 x 240 = 24,000

Step-by-step explanation:

Verification

24,000 x 1/12 x 5/100 = 100

Answer 2

Answer:

1month=8.33

A=SI-P

100=P×R×T/100 -P

100=P×5×8.33/100-P

100=P×41.65/100-P

100=P×0.4165-P

100=0.4165P-P

100=0.5835P

100/0.5835 = P

P=171.379605827

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