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If the simple interest on a certain sum of money for 4 years at the rate of 12.5% is Rs. 400 less than its principal. Find the sum.
1. 700 Rs.
2. 400 Rs.
3. 1200 Rs.
4. 800 Rs.

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Best answer
Correct Answer - Option 4 : 800 Rs.

Given:

Time = 4 years

Rate = 12.5%

Formula used:

Amount = Simple interest + Principal

SI = (P x R x T)/100

where P = Principal,

R = Rate of Interest,
T = Time Period of the Loan/deposit in years,
SI = Simple Interest

Calculations:

Let, the principal is P

SI = (P x R x T)/100

⇒ P - 400 = (P × 4 × 12.5)/100

⇒  P - 400 = P × 4 × (1/8)

⇒  P - 400 = P/2

⇒  2P - 800 = P

⇒  P = 800 Rs.

∴ The sum is 800 Rs.

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