Question

Question 18
Max. Marks 1.00
On a certain sum of money, Rs. 660 is received as simple interest after 2 years, at a rate of interest of 11% per
annum. What is the principal amount?
Rs. 3,000
Rs. 3,300
Rs. 2,700
Rs. 2,900
​

Answer 1

Answer:

Rs. 3000

Step-by-step explanation:

Let the sum of money be Rs. x

Time = 2 years

Rate = 11%

SI = x × 2× 11 /100

= 11x/50

By the problem,

11x/50 = 660

x = 660×50/11

x = 60 × 50

x = 3000

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