Question

What sum of money will produce Rs. $28,600$ as an interest in $3$ years and $3$ months at $2.5\%$ p.a. simple interest?

• A. Rs. $3,52,000$
• B. Rs. $3,22,000$
• C. Rs. $3,42,000$
• D. Rs. $3,32,000$

Answer 1

The correct option is A Rs. $3,52,000$

We know $I=P\times it$
$28,600=P\times \frac{2.5}{100}\times 3\frac{3}{12}$
$P=Rs.3,52,000$.