The simple interest on a principal for 6 months at an interest rate of 10% per annum is ₹ 100. What is the principal?
Answer & explanation
Correct answer: option 2
Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)
6 months = \(\frac{ 6 }{12}\) = 0.5 years
ATQ,
100 = \(\frac{ Principal × 10 × 0.5 }{100}\)
Principal = Rs. 2000