Question

What sum of money will earn Rs. 700/- as simple interest in 1 year at 5 % per annum?​

Answer 1

Step-by-step explanation:

Given: What sum of money will earn Rs. 700/- as simple interest in 1 year at 5 % per annum?

To find: Principal amount

Solution:

Formula to be used:

$\boxed{\bf\red{SI=\frac{P\times R\times T}{100}}}$

Step 1: Write the values which are given

SI = 700 rs

T= 1 year

R= 5%

P =?

Step 2: Put values in the formula

$700=\frac{P\times 5\times 1}{100}$

$700 \times 100=5P$

or

$P=\frac{70000}{5}$

$P=14000$

Final answer:

14000/- Rs will earn Rs. 700/- as simple interest in 1 year at 5 % per annum.

Hope it helps you.

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