Question 57

If the present amount is ₹ 87,750 with 8% rate of interest in four years, then what was the principal amount?

Solution

Given, Amount = ₹ 87,750

Rate = 8%

Time = 4 years

Let Principal amount = P

$$\Rightarrow$$ P + $$\frac{P\times4\times8}{100}=87750$$

$$\Rightarrow$$ P + $$\frac{32P}{100}=87750$$

$$\Rightarrow$$ $$\frac{132P}{100}=87750$$

$$\Rightarrow$$ $$\frac{P}{100}=664.7727$$

$$\Rightarrow$$ P = 66477.27

$$\therefore\ $$Principal amount = ₹ 66477.27

Hence, the correct answer is Option D

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