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If the simple interest on a sum of money for 3 years at 5% per annum is Rs 1,500, what is the principal?
Rs 8,000
Rs 10,000
Rs 12,000
Rs 9,000
Rs 10,000
Calculate the effective percentage: 3├Ч5=15%. Since 15% of Principal = 1500, 1% = 100, so 100% = 10000.
Simple Interest (SI) = Rs 1,500, Time (T) = 3 years, Rate (R) = 5% per annum.
P=R├ЧTSI├Ч100тАЛ
Calculate the effective percentage: 3├Ч5=15%. Since 15% of Principal = 1500, 1% = 100, so 100% = 10000.
Students often multiply by the rate instead of dividing, or confuse Simple Interest with Compound Interest formula.
Identify given variables
We are given the simple interest SI=1500, time T=3, and rate R=5.
SI=1500,T=3,R=5
State the standard SI formula
The formula for simple interest is SI=100P├ЧR├ЧTтАЛ. Rearranging to find the principal P:
P=R├ЧTSI├Ч100тАЛ
Substitute and Calculate
Substituting the known values: P=5├Ч31500├Ч100тАЛ=15150000тАЛ.
P=10000
B is correct because the calculated principal using the formula is Rs 10,000.
This direct approach is the foundation for Profit and Loss questions, where the principal behaves like a Cost Price.
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