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A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?

Difficulty: Easy

Rs. 8,925
Rs. 9,000
Rs. 8,250
Rs. 8,625
None of these

Correct Answer: Rs. 8,925

Explanation:

Given

Total Simple Interest (SI) = Rs. 4016.25
Rate (r) = 9% per annum
Time (t) = 5 years

Formula
SI = (P × r × t) / 100⇒ P = (SI × 100) / (r × t)

Substitute values
P = (4016.25 × 100) / (9 × 5)= 401625 / 45= 8925

Final Answer
The principal (sum) is Rs. 8,925.

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