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A sum amounts to Rs. 3626 in 219 days at 6% per annum simple interest. What would be the sum?

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Rs. 3000

Rs. 3200

Rs. 3500

Rs. 3600

answer is C.

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Detailed Solution

We are given that amount = Rs 3626, rate =6% and time=219 days.
The formula for simple interest,

S . I = P × R × T 100

where, S.I is simple interest, P=principal, R=rate percent, T=time.
The formula for amount,

A m o u n t = Sum + S .I .

First, we convert the time in years,
As we know, 1 year = 365 days.

⇒ 219365 years

Let the principal be Rs. P.
Applying formula,

S . I = P × R × T 100 .

⇒ S . I = P × 6 × 219 100 × 365 = 1314 P 36500

Applying formula,

A m o u n t = Sum + S .I .

⇒ 3626 = 37814 P 36500 ⇒ P = 3626 × 36500 37814

Simplify further,

The principal is Rs 3500.
Therefore, the correct option is 3.

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