what sum of money will amount ₹11760 st the rate of 5percent per annum S I at the end of 8years
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Step-by-step explanation:
Given:
Amount = Rs. 11760
Time = 2.5 years
Rate% = 9% p.a.
Formula used:
Simple interest = (Principal × time × rate)/100
Amount = Principal + simple interest
Calculation:
Let the principal be x
⇒ {x + (x × 2.5 × 9)/100} = 11760
⇒ 100x + 22.5x = 11760 × 100
⇒ 122.5x = 11760 × 100
⇒ x = 9600
According to question:
Simple interest = {(9600 × 15 × 22)/(5 × 100)} = Rs. 6336
∴ the simple interest = Rs.6336
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