Multiple choice

What principal will amount of $Rs. 560$ in $3$ years at $4\%$ per annum simple interest?

  1. $60$
  2. $500$
  3. $620$
  4. $510$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple Interest formula: A = P(1 + rt/100). 560 = P(1 + (4*3)/100) = P(1 + 0.12) = 1.12P. P = 560 / 1.12 = 500.

AI explanation

Using the formula Principal = Amount / (1 + R*T/100), we substitute the given values: Principal = 560 / (1 + (4 * 3)/100). This simplifies to 560 / (1 + 12/100), which equals 560 / (112/100). By solving 560 * (100/112), we get the principal as 500. The result is 500.

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