Question

Calculate the principal if the rate of interest is $4.5\%permonth$for $6years$ and the simple interest is $Rs3847.50$.

Answer 1

$$\begin{gathered} SI=Rs3847.50 \\ R=4.5\%permonth=4.5\times 12\%p.a.=54\%p.a. \\ T=6years \\ P=\frac{SI\times 100}{R\times T}=\frac{3847.50\times 100}{54\times 6}=Rs1187.50 \end{gathered}$$