What is the sum of amount which gives Rs. 6300 as interest @ 7%
Posted on 14-04-2023
Ques - What is the sum of amount which gives Rs. 6300 as interest @ 7% per annum of simple interest in 7(1/2) years?
(a) 36000
(b) 24000
(c) 63000
(d) 12000
Solution -
Given,
S.I = 6300
P = ?
T = 7(1/2)
R = 7%
S.I = (P×R×T) / 100
6300 = ( P × 7 × 7(1/2) ) / 100
6300 = ( P × 7 × (15/2) ) / 100
6300 = 105 P / 200
1260000 = 105 P
P = 1260000 / 105
P = 12000
Therefore,
The sum of amount is 12,000.
Hence,
The correct answer is option (d) 12000.
Thank You