Question

what sum of money lent for 2 years at 5% per year will amount to 330

ANSWER IS 300 BUT I NEED SOLUTION ​

Answer 1

Answer:

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Answer 2

Answer:

300

Step-by-step explanation:

let amount= x rs.

time =2 year

rate = 5%

amount after year is 330

interest = 330- amount

now we know that

$\frac{amount \times rate \times time}{100} = interest$

$\frac{x \times 2 \times 5}{100} = 330 - x$

$\frac{x}{10} = (330 - x)$

x= 3300- 10x

10x + x= 3300

11x = 3300

x= 3300/11

x= 300

the amount is 300