Question

what sum of money will amount to rupees 900 in 4 years at 5% (Simple Interest). ​

Answer 1

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★Sum of money = ₹ 750/-

Given

• Amount = 900
• Rate =5%
• time = 4yr

To find

• Sum of money i.e Amount

Solution

As per formula

• Principal = amount x 100/ 100 + (time *rate)

Let the sum of money be Rs y

So Amount = y +[( y x 5 x 4 )/100]

But Amount = Rs 900

• ⇒ 900 = y +(20y)/100
• ⇒ 900 = 6y / 5
• ⇒ y = ( 900 x 5) /6
• = Rs 750

Thus Sum of money = ₹ 750/-

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