Question

What sum of money will accumulate to rs.5300 at 8% rate of interest in 9 months?

Answer 1

Answer:

5406

Explanation:

5300×8/100×9/12=106

sum of money =5300+106=5406.

Answer 2

The sum of money will accumulate to Rs.5300 at 8% rate of interest in 9 months is Rs. 5,000

Explanation:

The computation is shown below:

Let us assume the principal or sum be X

And we know that

Amount = Principal + interest

So, the equation is

Principal + Principal × interest rate × time period = Amount

X + X × R × T = Rs. 5,300

X + X × 8% × 9 months ÷ 12 months = Rs 5,300

After solving this

53X = Rs. 265,000

X = Rs 5,000

Hence, the sum of money is Rs. 5,000

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