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Question

By mistake a clerk, calculate the simple interest on principle for 5 months at 6.5% p.a. instead of 6 months at 5.5% p.a. If the error in calculation was Rs.25.40. The original sum of principle was:

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Solution

Actual SI=P×5.5×6100=33p1000.33p
Calculated SI=P×5×6.510032.5p100=0.325p
Error in calculation=Rs.25.40=0.33p0325pp=5080
Hence, original sum of principle=Rs.5,080

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