Maths-

General

Easy

Question

# On what principal will the simple interest be Rs 7,008 in 6 years 3 months at 5% per year?

Hint:

### Use the formula for simple interest and then find the principal amount.

## The correct answer is: 22425.6 Rupees

### Complete step by step solution:

Let the sum of money = P

We calculate simple interest by the formula,…(i)

where P is Principal amount, T is number of years and R is rate of interest

Here, we have T = 6 years and 3 months = 6.25 years, R = 5% , SI = 7008 and P = ?

On substituting the known values in (i), we get

Hence the sum of money P = 22425.6 Rupees.

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