What principal will amount to Rs. 1320 in 2 years at 10% per annum simple interest?

Topic: Interest
Subtopic: Simple Interest

ARs. 1000

BRs. 1100

CRs. 1150

DRs. 1200

Explanation

Amount = P(1 + RT/100) => 1320 = P(1 + (10*2)/100) => 1320 = P(1.20) => P = 1320 / 1.20 = Rs. 1100.

Exam Relevance

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