Question

On a certain sum the interest paid after 3 years is ₹450 at 5% rate of interest per annum. Find the sum.

• A. ₹3000
• B. ₹5000
• C. ₹6000
• D. ₹4000

Answer 1

The correct option is A ₹3000

Simple interest $\left(I\right)$ is given by $I=\frac{P\times R\times T}{100}$

Here $I=₹450;T=3$ years; $R=5$%

So, $450=\frac{P\times 5\times 3}{100}$

⇒ $P=\frac{450\times 100}{5\times 3}=₹3000$

So, the sum is ₹3000.