The sum of money that will give Rs.2 as interest per day at the rate of 8% per annum at simple interest is:
Answer & explanation
Correct answer: option 3
SI = \(\frac{PRT}{100}\)
SI = 2 Per day
SI for 365 days = Rs.730
730= \(\frac{P\;×\;8\;×\;1}{100}\)
P = Rs.9125