Question

Find the principal on which a simple interest of rs 55 will be obtained after 9 months at the rate of 11/3% p.a. ​

Answer 1

Answer:

Rs. 2000

Step-by-step explanation:

Let the principal amount be Rs. P.

Rate of interest = 11/3 % and time = 9/12 years.

So, Simple interest = P × (11/300) × (9/12) = 55

P = (55 × 12 × 300) / (9 × 11) = Rs. 2000