Question

on what principal will the simple interest be 7008 in 6years 3 months at 5 per year

Answer 1

Answer:

22425.6 rupees

Step-by-step explanation:

Answer 2

Step-by-step explanation:

simple interest is given by

1=PNR/100

where I=simple interest

P= principal

N= number of years

R= rate of interest

given,

I= Rs.7008

N= 6 years and 3 months = 6 3/12=6 1/4=

25/4 years

R= 5%

substituting the values in the formula:

=7008= P× 25/4×5 / 100

=7008=P×125 / 400

= rs.22425.60