If the SI on a certain sum of money at 6 \(\frac{2}{3}\) % per annum for 4 years is ₹5500 less than its principal. Find the S.I. and principal.
Answer & explanation
Correct answer: option 3
\(\frac{P × 20 × 4}{3 × 100}\) = P - 5500
⇒ \(\frac{11P}{15}\) = 5500
⇒ P = 7500
S.I. = 7500 - 5500 = 2000