Question

On what sum money does the S.I. For 10 years at 5% become Rs 1,600?

Answer 1

It is given that

$S.I=Rs.1,600$

$R=5\%$ p.a.

$T=10$ years

We know that $P=$ $(S.I\times 100)$ / $(R\times T)$

Substituting the values $=(1600\times 100)$/$(5\times 10)$

$=3200$

So we get $P=Rs.3,200$