Question

The simple interest on a certain sum at the rate of 7% for 6 years is ₹ 3024. The sum is:

• A. ₹ 7000
• B. ₹ 7150
• C. ₹ 7200
• D. ₹ 7280

Hint:

To find principal using simple interest, rearrange the SI formula: \[ P = \frac{SI \times 100}{R \times T} \]

Answer 1

The Correct Option is C

We use the formula for Simple Interest (SI): \[ \text{SI} = \frac{P \times R \times T}{100} \] Where: - SI = ₹3024 - R = 7% - T = 6 years - P = principal (sum) Substitute into the formula: \[ 3024 = \frac{P \times 7 \times 6}{100} \Rightarrow 3024 = \frac{42P}{100} \Rightarrow P = \frac{3024 \times 100}{42} = \frac{302400}{42} = ₹ 7200 \]