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Question
The sum which will earn a simple interest of ₹ 126 in 2 years at 14% per annum is ______.
Options
₹ 394
₹ 395
₹ 450
₹ 540
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Solution
The sum which will earn a simple interest of ₹ 126 in 2 years at 14% per annum is ₹ 450.
Explanation:
From the question, It is given that,
SI = ₹ 126
Time = 2 years
Rate = 14%
Then, we know the formula of simple interest
`I = (P xx R xx T)/100`
`126 = (P xx 14 xx 2)/100`
`P = 12600/(14 xx 2)`
P = ₹ 450
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