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Exercises · Q9

Q.A sum of ₹7,440 is the amount received after 3 years on a certain principal lent at 8% per annum simple interest. Find the principal.

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✓ Free question

Given: A=7440A = 7440, R=8%R = 8\% p.a., T=3T = 3 years, simple interest; find PP.

Method 1 — amount formula. For simple interest, A=P(1+RT100)A = P\left(1 + \dfrac{RT}{100}\right). Here RT100=8×3100=0.24\dfrac{RT}{100} = \dfrac{8 \times 3}{100} = 0.24, so

P=A1+0.24=74401.24=6000.P = \dfrac{A}{1 + 0.24} = \dfrac{7440}{1.24} = 6000.

Method 2 — independent check. With P=6000P = 6000, the simple interest is 6000×8×3100=1440\dfrac{6000 \times 8 \times 3}{100} = 1440, and the amount is 6000+1440=74406000 + 1440 = 7440 — exactly the given amount, confirming P=6000P = 6000.

✓Final answer

The principal is ₹6,000.

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