If a simple interest of Rs.72 will be obtained after 6 months at the rate of 3 percent per annum, then the principal amount would be: (in Rs.)

Question

Question

This question was previously asked in

Maha TAIT Official Paper (Held On 12 Dec 2017 Shift 2)

Answer 1

Given:

The simple interest of Rs.72 will be obtained after 6 months at the rate of 3 percent per annum.

Concept:

P is the principal amount.

R is the rate of interest per annum.

T is the time period in years.

Solution:

According to the question,

The simple interest of Rs.72 will be obtained after 6 months at the rate of 3 percent per annum.

P = 4800

Hence, option 4 is correct.

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