Question 71

An amount invested at simple interest gives Rs 2550 interest at rate of 17% per annum in 3 years. What is the principal (in Rs)

Solution

Let the principal be = Rs. $$100x$$

Rate of interest = 17% and time period = 3 years

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

=> $$\frac{100x\times17\times3}{100}=2550$$

=> $$51x=2550$$

=> $$x=\frac{2550}{51}=50$$

$$\therefore$$ Principal sum = $$100\times50=Rs.$$ $$5000$$

=> Ans - (B)

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