A certain sum on $13 \frac{1}{2}$% per annum simple interest amounts to ₹2502.50 in 4 years. Find the sum.

₹1625

Amount = Principal + Simple Interest

SI = \(\frac{ P × R ×T}{100}\)

= \(\frac{ P × 27 × 4}{2 × 100}\)

= \(\frac{ P × 27}{50}\)

Amount = P + \(\frac{ P × 27}{50}\)

= \(\frac{ 77P}{50}\)

ATQ,

\(\frac{ 77P}{50}\) = 2502.50

P = 1625

The correct answer is Option (2) → ₹1625