Question

A certain principal amounts to Rs. 1860 in 3 years at the rate of 8 %p.a. What is the
principal?
If Amount = 1860
Time/No. of years = 3
Rate of interest = 8 pc.pa​

Answer 1

Answer:

Rs1500

Step-by-step explanation:

Amount = 1860

Time = 3 years

Rate = 8 pc.pa

We know that amount = Simple interest + Principal

simple interest = amount - principal

Let principal be x, then Simple interest = 1860-x

Formula for Simple interest = (Principal × Time × Rate)/100

1860-x = (x × 3 × 8)/100

100 (1860-x) = x × 3 × 8

186000 - 100x = 24x

186000 = 124x

x = 186000/124

x = 1500

Hence, Principal is Rs1500

If Simple Interest is asked, subtract Principal from Amount.

SI = 1860-1500 = Rs360

hope this helps :)