A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a.…
2025
A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
- A.
Rs. 4462.50
- B.
Rs. 8032.50
- C.
Rs. 8900
- D.
Rs. 8925
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Show answer & explanation
Correct answer: D
Answer: Rs. 8925.
Work:
Use the formula for simple interest: SI = (Principal × Rate × Time) / 100.
Rearrange to find Principal: Principal = (SI × 100) / (Rate × Time).
Substitute the given values: Principal = (4016.25 × 100) / (9 × 5) = 401625 / 45 = 8925.
Therefore the required sum is Rs. 8925.