Question

The simple interest on a certain sum of money for 3 years at 5% per annum is Rs.1,200. Find the principle amount.

Answer 1

Let Principle amount be $P$

Interest is $1200$

Time period is $3yrs$

Rate is $5\%$

So $1200=\frac{P\times 5\times 3}{100}P=\frac{1200}{15}\times 100=₹8000$