Question

A certain sum of money will amount to $10000$ at the rate of $8\%perannum$ simple interest at the end of $5$ years. Find the money.

Answer 1

Find the money:

Given us, A certain sum of money will amount to $10000Rs$ at the rate of $8\%perannum$ simple interest at the end of $5$ years.

Here, $\mathrm{Principal}=10000\mathrm{Rs},\mathrm{Rate}=8\%,\mathrm{Time}=1\mathrm{year}$

As we know that

$$\begin{gathered} \mathrm{Intrest}=\frac{\mathrm{Principal}\times \mathrm{Rate}\times \mathrm{Time}}{100} \\ =\frac{10000\times 8\times 1}{100} \\ =800Rs \end{gathered}$$

Hence, Interest is $\mathrm{Rs}800$.