Question

Calculate the principal when time $=10$ years, interest = Rs. $3000$; rate $=5\%$ p.a.

• A. Rs. $5000$
• B. Rs. $6000$
• C. Rs. $7000$
• D. Rs. $8000$

Answer 1

Answer: (B)

Rs. $6000$

simple interest formula is given by:

$S.I.=\frac{P\times R\times T}{100}$

where $S.I=$ simple interest

$P=$ principle

$R=$ rate of interest

$T=$ number of years

Given, $T=10$ years, $S.I=$ Rs. $3000$, $R=5\%$

by substituting the values in the formula we get:

$\Rightarrow$ $3000=\frac{P\times 5\times 10}{100}$

$\Rightarrow$ $P=\frac{3000\times 100}{5\times 10}=$ Rs. $6000$

Therefore, the principle is Rs. $6000$.