Question

10. If the simple interest on a certain sum of money is Rs. 7480 at the rate
of 18 13% p.a. for 4 yrs. 3 months. Then find the principal.
(A) Rs. 8400
(B) Rs. 9600
(C) Rs. 7200
(D) Rs. 9000​

Answer 1

Answer:

7200 rupees is the principal

Answer 2

Concept:

Simple interest is the amount of interest charged on a specific principal amount at a specific interest rate.

The principal is the amount of money borrowed or invested, on which interest is calculated.

Time: The length of time for which the major sum is provided to someone is called time. T stands for time.

The interest rate at which someone receives their principal amount for a specific period of time is called the rate.

Given:

The simple interest on certain money is Rs. $7840$ at the rate of $18$% p.a. for $4$ years and $3$ months.

Find:

The principal.

Solution:

The simple interest, $S.I=7480$

Rate of interest, $R=18\frac{1}{3}=\frac{55}{3}$

Time span, T = 4 yrs 3 months $=4.25yrs$ .

The simple interest formula is given as:

$S.I=\frac{P\times R\times T}{100}$

$7480=\frac{P\times 55\times 4.25}{3\times100}$

$P=\frac{7480\times300}{55\times4.25}$

$P=9600$

Therefore, the principal amount is Rs. $9600$

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