what sum of money will amount to 660 at 5% simple interest per annum in 5 years
Answers
Answered by
2
Answer :
Principal amount is 528 Rs
Step-by-step Explanation :
Given : Total Amount = 660
Rate of Interest = 5%
Number of years = 5 year's
To find : Principal Amount = ?
We know that,
Total amount = P + P×R×T/ 100
Where P = principal amount,
R = Rate of Interest
T = Time( No of years)
Substituting the given value in above formula we get,
660 = P + P×5×5/100
660 = P + 25P/100
660 = 125P/100
660 × 100 = 125P
66000 = 125P
66000/125 = P
P = 528
Hence Principal amount is 528 Rs
Similar questions