Question

Ravi took a loan for 6 years athe rate of 5% per annum on simple interest .If the total interest paid was Rs.1,230.Find the principle​

Answer 1

Answer:

The principal amount is Rs. 4100.

Step-by-step explanation:

The formula to compute the simple interest is:

$SI=\frac{P\times r\times t}{100}$

Given:

SI = Rs. 1230

r = 5% p.a.

t = 6 years

Compute the value of P as follows:

$SI=\frac{P\times r\times t}{100}\\1230=\frac{P\times 5\times 6}{100}\\P=\frac{1230\times100}{5\times6}\\=4100$

Thus, the principal amount is Rs. 4100.