Question

If the principal amount to Rs 3,550 in 4 years at the rate of of 10 1 upon 2 p.c.p.a simple interest. What is the principal

Answer 1

$3550 \times 21 \times 4 \div 100 \times 2 =$
1491

Answer 2

Answer:

The correct option is 3.

Step-by-step explanation:

The amount after 4 years is Rs 3,550.

Rate of interest is $10\frac{1}{2}\%=\frac{21}{2}\%$

The formula of amount is

$A=P+\frac{P\times r\times t}{100}$

Where, P is principal, r is rate of interest, t is time.

$3550=P+\frac{P\times \frac{21}{2}\times 4}{100}$

$3550=P+\frac{42P}{100}$

$3550=\frac{100P+42P}{100}$

$3550=\frac{142P}{100}$

$355000=142P$

$P=2500$

The principal amount is Rs. 2500. Therefore option 3 is correct.