Question 11

Simple interest on a sum for six months at 5% per annum is Rs 65.5.What is the value (in Rs) of sum?

Solution

Let principal amount = Rs. $$x$$

Rate of interest = 5% and time period = $$\frac{6}{12}=\frac{1}{2}$$ years

=> Simple interest = $$\frac{P\times R\times T}{100}$$

=> $$\frac{x\times5\times1}{2\times100}=65.5$$

=> $$\frac{x}{40}=65.5$$

=> $$x=40\times65.5=Rs.$$ $$2620$$

=> Ans - (B)

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