Q. A man receives Rs. 960 after 2 years on a sum lent at 8% simple interest. What is the principal?
✅ Correct Answer: (A)
Rs. 800
Explanation: Amount = P(1.16) ⟹ P = 960/1.16 = 800.
Explanation by: Mr. Dubey
Amount = P(1.16) ⟹ P = 960/1.16 = 800.