Question

What sum will amount rupees 6240 at 10% p.c.p.a. simple interest in 2 years

Answer 1

Answer:

The sum of Rs. $5350$ will amount to Rs. $6420$ after two years at the rate of $10\%$

interest p.a.

Step-by-step explanation:

Under simple interest method, calculations are easy and single step.

We have an equation

 $I=PNR/100$ , where

I is the total interest

P is the principal amount

N is number of years   and

R is the rate of interest.

Here given the total amount, that is, the amount after adding the total interest . Therefore,

                $6240= P+I$

We are asked to find the amount , So,

Let the amount invested $=x$

Therefore  $A=PNR/100+P$

Here,

                 $P=x\\N= 2 years\\R = 10\%$

                 $A=6420$

Hence  $6420=x(2)(10)/100+x$

implies  

                $6420=\frac{20x}{100} +x\\\\6420=120x/100\\\\x=6420*\frac{100}{120}\\\\x=1070*5=5350$

So the amount  invested is $5350$ rupees.

Hence the answer

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