The simple interest on a principal amount (in ₹) is ₹486 for a period of 3 years at the rate of 8% per annum. The principal amount (in ₹) is:
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Correct answer: D
Explanation
correct answer is option 4 i.e. 2025.
Simple Interest = 486
Time = 3 years
Rate = 8%
Formula: SI = (P × R × T) / 100
486 = (P × 8 × 3) / 100
486 = (24P) / 100
486 = (6P) / 25
486 × 25 = 6P
12150 = 6P
P = 12150 ÷ 6
P = 2025