Question 86

Simple interest on a sum for 9 months at 8% per annum is Rs 270.What is the value (in Rs) of the sum?

Solution

Let principal amount = Rs. $$x$$

Rate of interest = 8% and time period = $$\frac{9}{12}=\frac{3}{4}$$ years

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

=> $$\frac{x\times8\times3}{4\times100}=270$$

=> $$\frac{6x}{100}=270$$

=> $$x=\frac{270\times100}{6}=Rs.$$ $$4,500$$

=> Ans - (C)

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