Question

What amount will sum up to Rs. $484$ at $10$% p.a. in SI in $2$ years?

• A. $400$
• B. $300$
• C. $500$
• D. $200$

Answer 1

The correct option is A $400$

Under simple interest,

Interest $=Principal\times rate\times time$

Principal $=P$

Rate $=10\%$

Time $=2$ years

Interest $=$ Rs. $484-P$

$\Rightarrow 484-P=P\times \frac{10}{100}\times 2$

$\therefore 12P=4840$

$P=403.33\approx 400$