Each question given below is followed by three statements. Study the question and the statements. Identify which option is necessary to answer the question.
What is the principal sum?
I. The interest amount after 30 months is half the interest amount after 5 years.
II. The sum amounts to Rs 750 in a five years at simple interest rate
III. The rate of interest is 8% p.a.
Solution
A=$$P\left(1+\frac{TR}{100}\right)$$
From 2 and 3 , A= 750 , T=5 and R=8
P can be found out by substituting these values in the above equation.
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