Question

S.I. accrued on an amount in eight years @ 11% p.a. is 57200. What was the principal amount?

Answer 1

We know,

S.I = $\frac{prt}{100}$

here, S.I = 57200, r =11, t=8, p=?

∴

57200 = $\frac{p*11*8}{100}$

⇒ 88p = 5720000

⇒ p = $\frac{5720000}{88}$

⇒ p = 65000

∴ The principal amount was 65000 /-.