Question

what sum of money will amount to rs 3000 in 5yrs at 5%per annum

Answer 1

this is the answer .

Answer 2

Solution :-

Principal = ?, Rate of Interest = 5 %, Time = 3 years and A = Rs.3000 

Let the Principal be Rs. P

Then S.I. = A - P 

S.I. = Rs. 3000 - P

Then according to the question.

Simple Interest = (P*R*T)/100

⇒ 3000 - P = (P*5*5)/100

⇒ 300000 - 100P = 25P

⇒ 100P + 25P = 300000

⇒ 125P = 300000

⇒ P = 300000/125

⇒ P = 2400

So, the Principal is Rs. 2400 

Answer.