Question

Arun obtained an amount of Rs 8,376/- as simple interest on a certain amount at 8% per annum after 6 years. What is the amount invested by Arun?

1. Rs 17450/-
2. Rs 18110/-
3. s 16,660/-
4. Rs 17180/-

Answer 1

Correct Answer - Option 1 : Rs 17450/-

Given

Arun obtained an amount of Rs 8,376/- as simple interest on a certain amount at 8% per annum after 6 years.

Formula used

SI = (P × R × T)/100

SI = Simple interest

P = Principal

R = Rate

T = Time

Calculation

According to question

⇒ 8376 = (P × 8 × 6)/100]

⇒ 8376 = P(148/100)

⇒ P = 8376 × 100/48

⇒ P = Rs.17450

∴ The amount invested by Arun is Rs.17450