A simple interest of ₹6500.52 was earned in 3 years at a rate of 42.15% per annum. What was the principal…

Question

A simple interest of ₹6500.52 was earned in 3 years at a rate of 42.15% per annum. What was the principal amount?

ScanSolve AI Tutor · Accepted Answer

The problem asks to find the principal amount given the simple interest, rate, and time.

Given:

The formula for simple interest is:

SI = \frac{P \times R \times T}{100}

Where $P$ is the Principal.

Rearrange the formula to solve for $P$ .
$P = \frac{SI \times 100}{R \times T}$
Substitute the given values into the formula.
$P = \frac{6500.52 \times 100}{42.15 \times 3}$
Calculate the numerator.
$6500.52 \times 100 = 650052$
Calculate the denominator.
$42.15 \times 3 = 126.45$
Divide the numerator by the denominator to find $P$ .
$P = \frac{650052}{126.45}$ $P = 5140.822459469996$
Round the principal to two decimal places, as it represents currency.
$P \approx 5140.82$
The principal amount is:
$P = 5140.82 \text{ rupees}$

A simple interest of ₹6500.52 was earned in 3 years at a rate of 42.15% per annum. What was the principal amount?