Question 5

# At 6% simple interest per annum a sum of money became ₹ 834 in $$6\frac{1}{2}$$ years. The sum initially invested was:

Solution

principle =rs834

rate=6%

time=6.5years

amount = $$p(1+ \frac{r}{100})t$$ (in power)

=  $$834(1+ \frac{6}{100})6.5$$ (in power)]

= Rs  600