What sum of money lent out at 10% per annum would produce Rs.150 in five years
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Solution :
Let Principal = P
Rate of interest (r) = 10% ,
Time ( t ) = 5 years
Amount ( A ) = Rs 150
P[ 1 + r/100 ] = A
=> P[ 1 + 10/100 ] = 150
=> P ( 1 + 1/10 ) = 150
=> P( 11/10 ) = 150
=> P = ( 150 × 10 )/11
=> P = Rs 136.36
•••••
Let Principal = P
Rate of interest (r) = 10% ,
Time ( t ) = 5 years
Amount ( A ) = Rs 150
P[ 1 + r/100 ] = A
=> P[ 1 + 10/100 ] = 150
=> P ( 1 + 1/10 ) = 150
=> P( 11/10 ) = 150
=> P = ( 150 × 10 )/11
=> P = Rs 136.36
•••••
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