Veena obtained an amount of Rs. 8376 as simple interest on a certain amount at…
2024
Veena obtained an amount of Rs. 8376 as simple interest on a certain amount at 8% p.a. after 6 years. What is the amount invested by Veena?
- A.
Rs. 17180
- B.
Rs. 18110
- C.
Rs.16660
- D.
Rs.17450
Attempted by 36 students.
Show answer & explanation
Correct answer: D
The formula for simple interest is SI = P × R × T / 100
Given: Simple interest = 8376, Rate = 8% per annum, Time = 6 years.
Rearrange the formula to find the principal: P = (SI × 100) / (R × T)
Substitute the given values: P = (8376 × 100) / (8 × 6) = 837600 / 48.
Compute the division: 837600 ÷ 48 = 17450.
Therefore, the amount invested by Veena is Rs. 17450.