A certain sum of money amounts to Rs. 20,160 in 5 years at 8% interest. Find the principal
Rs. 14,000
Rs. 14,100
Rs. 14,440
Rs. 14,400
Explanation:
P+SI=A
SI=$\dfrac{p \times n\times r}{100}$P+$\dfrac{P\times 5\times 8}{100}=20,160$
$P+\dfrac{2P}{5}=\dfrac{7P}{5}=20,160$
$P=\dfrac{20160\times5}{7}=14,400$