Question

The simple interest on a certain sum of money for 3 years at $6\%$ per annum is ₹432. Find the principal.

• A. ₹2500
• B. ₹2400
• C. ₹2000
• D. ₹2700

Answer 1

The correct option is B

₹2400

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

Let the sum of money or principal be P

I = $\frac{PRT}{100}$

432 = $\frac{P\times 6\times 3}{100}$

P = $\frac{432\times 100}{6\times 3}$

= $\frac{144\times 100}{6}$

= ₹2400