Question
A sum of money amounts to Rs. 5600 in 5 years at 8%
simple interest per annum. Find the principal and the interest earned.Solution
Formula: A = P(1 + rt/100) 5600 = P(1 + 8×5/100) = P(1 + 40/100) = P(1 + 0.40) = 1.40P P = 5600 / 1.40 = 4000 Simple interest = Amount − Principal = 5600 − 4000 = 1600 Answer: Principal = Rs. 4000, Interest = Rs. 1600
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