Multiple choice

Rakesh took a loan for 7 years at the rate of 6% p.a. S.I. If the total interest paid was Rs. 2100, the principal was

  1. Rs. 4400

  2. Rs. 4800

  3. Rs. 5000

  4. Rs. 5200
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest formula is I = (P * R * T) / 100. Plugging in the values: 2100 = (P * 6 * 7) / 100, which simplifies to 2100 = 42P / 100. Solving for P gives P = (2100 * 100) / 42 = 5000.

AI explanation

Using the Simple Interest formula, we have SI = (P * R * T) / 100. Substituting the given values gives 2100 = (P * 6 * 7) / 100, which simplifies to 2100 = 42P / 100. Solving for P yields P = (2100 * 100) / 42, resulting in a principal of Rs. 5000.

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