Question

on what principal will the simple interest be Rs.7000 in 6 years 3 months at 5 percent Per year​

Answer 1

Step-by-step explanation:

Simple Interest is given by

I=

100

PNR

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

12

3

=6

4

1

=

4

25

years

R=5%

Substituting the values in the formula:

⇒7008=

100

P×

4

25

×5

⇒7008=

400

P×125

⇒P=Rs.22425.60