What sum of money should be invested to earn a simple interest of ₹5,040 in 3 years and 6 months at 12% rate of interest per annum?

₹9,000 ₹11,000 ₹15,000 ₹12,000

₹12,000

We know , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) 5040 = \(\frac{Principal  × 12 × 3.5 }{100}\) Principal = \(\frac{5040 × 100 }{12×3.5}\) = Rs. 12000