Question : A sum fetched a total simple interest of Rs. 7728, at the rate of 7% per annum, in 8 years. What is the sum?
Option 1: Rs. 13800
Option 2: Rs. 16560
Option 3: Rs. 11040
Option 4: Rs. 8280
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Answer (1)
19th Jan, 2024
Correct Answer: Rs. 13800
Solution :
Given:
Total simple interest = Rs. 7728
Rate = 7% per annum
Time: 8 years.
Simple interest (SI) =
Let the principal amount be P.
So, 7728 =
⇒ P =
⇒ P =
Hence, the correct answer is Rs. 13800.
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