Question

If a sum of money increased by 1/5 of itself every year and in 5 years amounts to Rs.8546,find the sum.

Answer 1

use with formulae

A= P (1+R/100)T

T means time..

Answer 2

Answer:

Let the sum or principle be "x"

Time T=5 years

Rate be R

Amount(A)=8546

According to question,

Interest in 1st year=1/5 of x=x/5

Interest in 5 year=x/5 ×5=x

Now,

Rate=(100×I)/T×P= (100×x)/(5×x)=20%

Principle=(100×A)/(100+T×R)=(100×8546)/100+(5×20)=4273

Step-by-step explanation: