Multiple choice

What will principal amount be Rs. $496$ in $6$ years at the rate of simple interest of $4$ % per annum?

  1. Rs $456$
  2. Rs $500$
  3. Rs $400$
  4. Rs $460$
Reveal answer Fill a bubble to check yourself
C Correct answer
AI explanation

Using the simple interest formula where Interest equals Principal times Rate times Time divided by 100, we have 96 equals Principal times 4 times 6 divided by 100. This simplifies to 96 equals 0.24 times Principal, making the Principal equal to 400. The sum of the principal and the interest is 400 plus 96, which is Rs. 496.

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