how much is the principal if the simple imterest is 2,500 and the rate is 10% in 5 years?
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Step-by-step explanation:
Rs.1500 is invested at a rate of 10% simple interest and interest is added to the principal after every 5 years.
S.I. for the first 5 years =1500×
100
10
×5
= Rs.750
Thus, principal for the next 5 years is = Rs. (1500+750)
= Rs 2250
Required amount = Rs.2500
Let the invested amount amounts to Rs. 2500 in t years.
So, 2500=2250+2250×
100
10
×t
⇒2500−2250=225×t
⇒225×t=250
⇒t=
225
250
⇒t=
9
10
Thus, total time required =(5+
9
10
) years
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