Question

Find the principle for the amount of ₹61000that was paid at the rate of interest 11% pa for 2years​

Answer 1

Solution:-

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Here the Question has given us the Amount, rate of Interest and time and has asked us to find the principal amount. We will solve this by applying the formula of principal. The final digits will be the answer.

ANSWER:-

• The principal for the amount of ₹61000 that was paid at the rate of interest 11% pa for 2years is ₹50,000.

GIVEN:-

• Amount = ₹61000
• Rate of Interest = 11% per annum
• Time = 2 years

TO FIND:-

• Principal amount = ?

FORMULA:-

• Principal amount = 100×Amount/100+(R×T)

SOLVING BY APPLYING THE FORMULA:-

• Amount = ₹61000
• Rate of Interest = 11% per annum
• Time = 2 years
• Principal = 100×Amount/100+(R×T)

• Principal amount = 100×61000/100+(11×2)
• Principal amount = 6100000/100+22
• Principal amount = 6100000/122
• Principal amount = 6100000/122 = 50,000
• Principal amount = 50,000

Hence, the Principal amount is ₹50,000.

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