Question

If the rate of simple interest is 12% per annum, then what is the
amount that would fetch interest of 6000 per annum?​

Answer 1

Step-by-step explanation:

Rate of Interest = 12% per annum

Simple Interest =Rs 6000 per annum

Let 'P' is the principal

SI= (P x R x T)/100

where , SI= Simple Interest

T= Time

R= Rate

∴ 6000=(P x 1 x 12)/100

∴ P =(6000 x 100)/12

= Rs 50000

Hence the required amount is Rs 50000