Question

Find the principal on which the simple interest for 3 1/2 years at 4% amount to rupees 1026

Answer 1

let the required principal be ' p '

given simple interest = Rs 1026

rate = 4 % p.a , time = 3whole1 /2

= 7 /2 yr = 3.5 yr

solve for 'p' :
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since , we know that ,

simple interest = p × r × t / 100

1026 = p × 4 × 3.5 / 100

1026 = 14 / 100

p = 102600 /14

p = 7328.5

therefore,

required principal = Rs 7328.5

Answer : principal = Rs 7328.5

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