The simple interest on a certain sum at the rate of 16.25% p.a. for 4 years is Rs.12600 less than principal. Find the principal.
Answer & explanation
Correct answer: option 2
\(\frac{P\;×\;16.25\;×\;4}{100}\) = P - 12600
⇒ \(\frac{35P}{100}\) = 12600
⇒ P = 36000