Q. If simple interest on an amount for 5 years at 4% p.a. is Rs. 240, what is the principal?
✅ Correct Answer: (A)
Rs. 1200
Explanation: P = SI×100/(R×T) = 240×100/(4×5) = 24000/20 = 1200. Other options produce incorrect backward-calculations.
Explanation by: Mr. Dubey
P = SI×100/(R×T) = 240×100/(4×5) = 24000/20 = 1200. Other options produce incorrect backward-calculations.