Manoj earned ₹6,075 as simple interest on a certain sum at 9% per annum after 5 years. Find the sum invested by him.
- A₹13,500
- B₹13,750
- C₹12,600
- D₹12,250
Solution & Step-by-step Explanation
The formula for Simple Interest (SI) is:
SI=
100
P×R×T
Given:
SI=₹6,075
R=9% per annum
T=5 years
Substituting the values into the formula:
6075=
100
P×9×5
6075=
100
45P
P=
45
6075×100
P=135×100=13,500
Therefore, the sum invested by him is ₹13,500.
SI=
100
P×R×T
Given:
SI=₹6,075
R=9% per annum
T=5 years
Substituting the values into the formula:
6075=
100
P×9×5
6075=
100
45P
P=
45
6075×100
P=135×100=13,500
Therefore, the sum invested by him is ₹13,500.