Question
On what principal will the simple interest be Rs. 7008 in 6 years 3 months at 5% per annum?
Hint:
Using the formula of simple interest, find the principal amount.
The correct answer is: 22425.6 Rupees.
Complete step by step solution
Let the principal amount = P
It is given that time (T) = 6 years 3 months 
= 6.25 years and
Rate of interest (R) = 5%
Interest amount = Rs 7008 (given)
We know the formula of Simple Interest 
.
On substituting the known values, we get 
On multiplying 100 on both sides, we get 700800 = 31.25P
Divide on both sides by 31.25.
On dividing, we get P = Rs 22425.6
Hence the principal amount P = 22425.6 Rupees.
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