Question

If Shreya gives an interest of Rs. 500 for 1 year at the rate 8% per annum. What is the sum she has borrowed?

Answer 1

500×1×40
$\frac{500×1×40}{100} = 200rs$

Hence, sum= 6250 ₹

Answer 2

let principal = p
SI = P×R×T/100
500 = P × 8 × 1 /100
500 = 8P/100
P = 500 × 100 / 8
P = 6250