Question

what is the principal if after five years at 4% pa simple interest it amounts to rs 24000

Answer 1

As we know,
SI=P+R+T/100
so putting the values
24000=P+4+5/100
2400=P+4.05
2400-4.05=P
P=Rs.2,395.95

Answer 2

Answer:

Principal is Rs. 20000

Step-by-step explanation:

Given: Amount, A = Rs. 24000

            Rate, R = 4%

            Time, T = 5 years.

To find: Principal amount , P

We know that Amount = Principal + Interest

Simple interest, SI = A - P

SI = 24000 - P

Also,

$SI=\frac{P\times R\times T}{100}$

$24000-P=\frac{P\times4\times5}{100}$

$24000-P=\frac{P\times20}{100}$

$24000-P=\frac{P}{5}$

$5(24000-P)=P$

$120000-5P=P$

$6P=120000$

P = 20000

Therefore, Principal is Rs. 20000