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Question

The simple interest on a certain sum of money for 3 years at 6% per annum is ₹ 432. Find the principal (in ₹).
  1. 2400

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Solution

The correct option is A 2400

Given that I = ₹ 432 , R = 6 % and T = 3 years.

Let the sum of money or principal be P

I = PRT100

432 = P×6×3100

P = 432×1006×3

= 144×1006

= ₹ 2400


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