Q. A sum becomes ₹840 at simple interest in 3 years at 8% per annum. What is the principal?
✅ Correct Answer: (B)
₹700
Explanation: CI = PRT/100 = P×8×3/100 = 0.24P; Amount = P + 0.24P = 1.24P = 840 → P = 840/1.24 = 700.
Explanation by: Mr. Dubey
CI = PRT/100 = P×8×3/100 = 0.24P; Amount = P + 0.24P = 1.24P = 840 → P = 840/1.24 = 700.