Question

if the interest earned in 100 days is Rs 500 when the interest rate is 10% what is the principle​

Answer 1

Answer:

We know that I = PTR/100

Given

I = 500

R = 10%

T = 100 days = 100/ 365 year(s)

Let principle be P

Now, I = PTR/100

500 = {P×(100/365)×10}/100

500 = P× 2.73/100

P = 500 × 100/ 2.73

P = 18,315 Rupees.