A sum fetched a total simple interest of ₹ 1,350 at 9% p.a. in 5 years. What is the sum?
- A₹ 2,000
- B₹ 3,300
- C₹ 2,500
- D₹ 3,000
Solution & Step-by-step Explanation
The formula for Simple Interest (SI) is:
SI=
100
P×R×T
Given parameters:
Simple Interest (SI) = ₹ 1,350
Rate of interest (R) = 9%
Time period (T) = 5 years
Substituting these values into the formula to find the principal amount (P):
1350=
100
P×9×5
1350=
100
45P
45P=1350×100
P=
45
135000
=₹ 3,000
Therefore, the principal sum is ₹ 3,000.
SI=
100
P×R×T
Given parameters:
Simple Interest (SI) = ₹ 1,350
Rate of interest (R) = 9%
Time period (T) = 5 years
Substituting these values into the formula to find the principal amount (P):
1350=
100
P×9×5
1350=
100
45P
45P=1350×100
P=
45
135000
=₹ 3,000
Therefore, the principal sum is ₹ 3,000.