Question

The interest on a certain sum of money is Rs. 1,480 in 2 years and at 10 percent per year. Find the sum of money.

Answer 1

Let P = Rs. x

Time (T) = 2 years

Rate (R) = 10%

∴ Interest =`("P"xx"T"xx"R")/100=("x"xx10xx2)/100="x"/5`

`"x"/5`= Rs. 14810 ....(Given)

∴ x = 1480 × 5 = Rs. 7400

Hence the money Rs. 7400