Question

If an investor wants to receive Rs. 10,000 as simple interest every month and rate of interest is 8% per annum then the amount he should invest is.
A) Rs. 25 lakhs
B) Rs. 20 lakhs
C) Rs. 15 lakhs
D) Rs. 8 lakhs
Please step by step explanation.....

Answer 1

$\bold\red{\underline{\underline {Answer:}}}$

The correct option is (C) Rs. 15 lakhs ✔

$\bold\red{\underline{\underline {Step-by-step\:Explaination :}}}$

Here, we are given,

▪Simple Interest (I) = 10,000 Rs.

▪Time (n) = 1 month = $\frac {1}{12}$ year

▪ Rate of Interest (r) = 8 %

▪Amount\Principle (p) = ?

_________________________________

As we know that,

I = prn

$⇒ 10000 = p \times \frac{8}{100} \times \frac{1}{12} \\ ⇒10000 = p \times \frac{1}{150} \\ ⇒10000 = \frac{p}{150} \\ ⇒p = 10000 \times 150 \\ ⇒p = 1500000$

$\bold\green{\boxed{∴The\: amount\: is \:1500000\: Rs.}}$

$\bold\pink{\underline{\underline {The\:correct\:answer\:is\:option\:(C)\:Rs.\:15\:lakhs.}}}$

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Answer 2

Answer:

C) 15 lakhs

Step-by-step explanation:

SI for one month = 10,000

SI for year = 12 * 10,000 = 12,000

12,000 = (8 *1 * P)/100

P = 15,00,000