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Amar invested a certain amount for 5 years and he got back an amount Rs.10,500. If the rate of simple interest is 20 percent then what is the principal amount invested by Amar?


1. Rs.5,275
2. Rs.4,250
3. Rs.5,250
4. Rs.5,350
5. None of these

1 Answer

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Best answer
Correct Answer - Option 3 : Rs.5,250

Given:

Time = 5 years

Amount = Rs.10,500

Rate of Simple interest = 20 percent

Concept:

Simple Interest (S.I) = (P × R × T)/100

Here,

P = Principal

R = Rate

T= Time (in years)

Amount (A) = P + S.I

Here,

P = Principal

S.I = Simple Interest

Calculation:

We know that –

S.I = (P × R × T)/100      ----(I)

Now,

Put all the given value in equation (1) then we get

S.I = (P × 20 × 5)/100

⇒ (100 × P)/100

⇒ 100P/100 = p

Now,

A = P + S.I      ----(II)

Put all the given Value in equation (II) then we get

10500 = P + P

⇒ 2P = 10500

⇒ P = Rs.5,250

The Principal Amount Invested by Amar is Rs.5,250

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