Question

Principal ammount = x , interest per annum =35percent , time=15yrs,money paid after 15 yrs=200000,find the prin

Answer 1

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Principal = Rs 5,000 for 10 years at an interest rate of 5% p.a. would fetch you an interest of

I = (5000*10*5)/100 = Rs 2,500.

Now, if you add this interest to the principal,

The new principal is = (5000+2500) = Rs 7,500.

Now, for the second tenure of 10 years, Principal of Rs 7500 for 10 years at an interest rate of 5% p.a. would fetch you an interest of

I = (7500*10*5)/100 = Rs 3,750

Again the new principal = (7500+3750) = Rs 11,250

So, the initial amount of Rs 5000 invested at 5% p.a. simple interest with the interest being added to principal every ten years would become Rs 11,250.

Now, if your question was, “will it cross Rs 10,000?”

Then the answer would be yes, after a period of 20 years. But it will not account to the exact amount of Rs 10,000.

Answer 2

Principal = Rs 5,000 for 10 years at an interest rate of 5% p.a. would fetch you an interest of

I = (5000*10*5)/100 = Rs 2,500.

Now, if you add this interest to the principal,

The new principal is = (5000+2500) = Rs 7,500.

Now, for the second tenure of 10 years, Principal of Rs 7500 for 10 years at an interest rate of 5% p.a. would fetch you an interest of

I = (7500*10*5)/100 = Rs 3,750

Again the new principal = (7500+3750) = Rs 11,250

So, the initial amount of Rs 5000 invested at 5% p.a. simple interest with the interest being added to principal every ten years would become Rs 11,250.

Now, if your question was, “will it cross Rs 10,000?”

Then the answer would be yes, after a period of 20 years. But it will not account to the exact amount of Rs 10,000.

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