Correct Answer - Option 2 : Rs. 70,001
Formula used:
SI = P × R × T/100
Where P = Principal, R = Rate and T = Time
Calculation:
Let the principal be Rs. X.
Now, the simple interest for first one and a half
year = [P × 8 × (3/2)/100]
⇒ 12P/100
The Simple interest for next 6 months = [P × 10 × (1/2)/100]
⇒ 5P/100
The Simple interest for next 10 months = [P × 12 × (10/12)/100]
⇒ 10P/100
The Simple interest for the remaining 15 months = [P × 4 × (15/12)/100]
⇒ 5P/100
According to Question,
(12P/100) + (5P/100) + (10P/100) + (5P/100) = 22400.32
⇒ 32P/100 = 22400.32
⇒ P = 22400.32 × (100/32)
⇒ Rs. 70,001
∴ The principal will be Rs. 70,001