For a fixed amount, 5 years at an annual rate of 12% on regular intere

1.	For a fixed amount, 5 years at an annual rate of 12% on regular interest. The interest received later was Rs.7,440. Find the amount invested.
Answer» Let the amount invested or principal amount be Rs. P Given rate of interest = R = 12% Time = T = 5 years S. I. = Rs. 7440 \(\because\) S. I. = \(\frac{PRT}{100}\) ⇒ 7440 = \(\frac{P\times12\times5}{100}\) ⇒ P = \(\frac{74400}{12\times5}\) = \(\frac{744000}{60}=\frac{74400}6\) = 12400 Hence, the invested amount is Rs. 12400.

For a fixed amount, 5 years at an annual rate of 12% on regular interest. The interest received later was Rs.7,440. Find the amount invested.

Answer»

Let the amount invested or principal amount be Rs. P

Given rate of interest = R = 12%

Time = T = 5 years

S. I. = Rs. 7440

\(\because\) S. I. = \(\frac{PRT}{100}\)

⇒ 7440 = \(\frac{P\times12\times5}{100}\)

⇒ P = \(\frac{74400}{12\times5}\) = \(\frac{744000}{60}=\frac{74400}6\) = 12400

Hence, the invested amount is Rs. 12400.

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For a fixed amount, 5 years at an annual rate of 12% on regular interest. The interest received later was Rs.7,440. Find the amount invested.

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