The simple interest on a principal amount (in ₹) is ₹177 for a period of 5 years at the rate of 2% per annum. The principal amount (in ₹) is:
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Correct answer: D
Explanation
The correct answer is option 4 i.e. 1770 .
Simple Interest = (P × R × T) ÷ 100
SI = 177, T = 5 years, R = 2%
177 = (P × 2 × 5) ÷ 100
177 = (10 × P) ÷ 100
10 × P = 177 × 100
P = 17700 ÷ 10 = 1770