Question

on what sum of money does the Simple interest for 10 years at 5% become 1600 rupees

Answer 1

here is your and hope u understand

Answer 2

Given,

Future amount (F)= Rs. 1600

Rate of Interest (r)= 5% or 5100 or 0.05

Time (n)= 10years

Simple Interest

Present amount (P)=?

We Know,

F=P(1+r⋅n)

(or)

P=F(1+r⋅n)

So,

P=16001+0.05⋅10

P=16001.5

P=1066.6¯≈1067

Hence, the Sum of money is Rs.1067.