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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