Maths Simple Interest Problem

Question

A certain sum of money will amount to RS 10000 at the rate of 8% per annum SI at the end of 5 years. Find the money.

Answer 1

A = P+Prt= P(1+rt)

P = A/(1+rt) = 10000/(1+.08(5)

= 10000/(1.4)

= RS 7142.86 rounded off to 2 decimals

r=8 % annual simple interest rate

t = 5 years

P = original principal

A = ending amount