What will principal amount be $R s . 496$ in $6$ years at the rate of simple interest of $4 %$ per annum?

456

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500

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400

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460

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Solution

The correct option is C $R s .400$
Given: $A = R s .496, R = 4 %$ ,T $= 6$ years
Now,
$S . I . = A - P$ and $S I = \frac{P R T}{100}$
$∴ \frac{P R T}{100} = A - P$
$\Rightarrow \frac{P \times 4 \times 6}{100} = 496 - P$
$\Rightarrow P + 0.24 P = 496$
$\Rightarrow 1.24 P = 496$
$\Rightarrow P = \frac{496}{1.24} = R s .400$
Hence, the principal is $R s .400$

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