The SI earned on a certain sum is Rs1560 at the rate 8% PA in 2yr. Find the sum.
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Simple interest \(= \;\frac{{P \times \;T\; \times \;R}}{{100}}\)
Where,
P = principle amount,
T = the time period
R = the rate of interest.
Given T = 2 years, R = 8% and Simple interest = Rs.1560
∴ from the equation,
⇒ 1560 = (P × 2 × 8)/100
⇒ P × 16 = 1560 × 100
⇒ P = (156000/16) = Rs.9750
∴ Sum = Rs. 9750
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