A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
Aptitude
Simple Interest
Difficulty: Easy
Choose an option
Answer
Correct Answer: Rs. 8,925
Explanation
Given
- Total Simple Interest (SI) = Rs. 4016.25
- Rate (r) = 9% per annum
- Time (t) = 5 years
FormulaSI = (P × r × t) / 100⇒ P = (SI × 100) / (r × t)
Substitute valuesP = (4016.25 × 100) / (9 × 5)= 401625 / 45= 8925
Final AnswerThe principal (sum) is Rs. 8,925.