simple interest of an amount in 8 years at the rate 12% is 5520 what is the principal amount
Answer (1)
Student Expert
13th Sep, 2021
Hello,
The principle amount can be calculated using the formula
Simple Interest= (Principal amount* Rate* Time)/100
That implies, Principal amount= (Simple Interest*100)/Rate*Time
P.A=(5520*100)/12*8
P.A=552000/96
P.A=5750
Therefore, the Principal Amount is Rs. 5740
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