The simple interest on a principal amount (in ₹) is ₹531 for a period of 5 years at the rate of 9% per annum. The principal amount (in ₹) is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 1180
SI = (P×R×T)/100
531 = (P×9×5)/100 = 45P/100
P = (531 × 100)/45 = 1180