Question

the sum of money that amounts to Rs. 1110 in 10 years at the rate of 5% simple interest will be

Answer 1

Answer:

The principal amount is Rs 740.

Step-by-step explanation:

concept: According to question we have given the time , interest rate and the amount which we get after adding simple interest and we  need to find the actual amount in which the interest is calculated,    

Given: Amount (A)= 1110

            Time(T)=10 years

             Interest rate(I)=5%

To find: Principal(P)

      Formula: A=P+SI  { I=PRT/100}{SI=Simple interest}

                       A=P+P*R*T/100

                      1110=P+P*5*10/100

                      1110=P+P/2

                       1110=3P/2

                         2220=3P

                           P=740.

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