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If the simple interest on a sum of money for 2 years at 5% per annum is ₹200, what is the principal amount?
- a)₹1000
- b)₹2000
- c)₹4000
- d)₹5000
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
If the simple interest on a sum of money for 2 years at 5% per annum i...
Simple Interest (SI) = 
Given SI = ₹200, R = 5%, T = 2 years
Given SI = ₹200, R = 5%, T = 2 years
Most Upvoted Answer
If the simple interest on a sum of money for 2 years at 5% per annum i...
Understanding Simple Interest
Simple interest is calculated using the formula:
Simple Interest = Principal × Rate × Time
Where:
- Principal is the initial amount of money.
- Rate is the annual interest rate (in decimal).
- Time is the time period in years.
Given Data
- Simple Interest (SI) = 200
- Rate (R) = 5% per annum = 0.05
- Time (T) = 2 years
Finding the Principal Amount
We need to rearrange the formula to find the Principal (P):
P = SI / (R × T)
Now, substitute the known values:
- SI = 200
- R = 0.05
- T = 2
Calculation Steps
1. Calculate R × T:
- R × T = 0.05 × 2 = 0.1
2. Substitute into the Principal formula:
- P = 200 / 0.1
3. Calculate P:
- P = 2000
Conclusion
The principal amount is 2000. Therefore, the correct answer is option 'B'.
This calculation shows how simple interest can help determine the initial amount of money based on the interest earned over a specified time period and rate.
Simple interest is calculated using the formula:
Simple Interest = Principal × Rate × Time
Where:
- Principal is the initial amount of money.
- Rate is the annual interest rate (in decimal).
- Time is the time period in years.
Given Data
- Simple Interest (SI) = 200
- Rate (R) = 5% per annum = 0.05
- Time (T) = 2 years
Finding the Principal Amount
We need to rearrange the formula to find the Principal (P):
P = SI / (R × T)
Now, substitute the known values:
- SI = 200
- R = 0.05
- T = 2
Calculation Steps
1. Calculate R × T:
- R × T = 0.05 × 2 = 0.1
2. Substitute into the Principal formula:
- P = 200 / 0.1
3. Calculate P:
- P = 2000
Conclusion
The principal amount is 2000. Therefore, the correct answer is option 'B'.
This calculation shows how simple interest can help determine the initial amount of money based on the interest earned over a specified time period and rate.
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If the simple interest on a sum of money for 2 years at 5% per annum is 200, what is the principal amount?a)1000b)2000c)4000d)5000Correct answer is option 'B'. Can you explain this answer?
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If the simple interest on a sum of money for 2 years at 5% per annum is 200, what is the principal amount?a)1000b)2000c)4000d)5000Correct answer is option 'B'. Can you explain this answer? for Class 7 2025 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about If the simple interest on a sum of money for 2 years at 5% per annum is 200, what is the principal amount?a)1000b)2000c)4000d)5000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 7 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the simple interest on a sum of money for 2 years at 5% per annum is 200, what is the principal amount?a)1000b)2000c)4000d)5000Correct answer is option 'B'. Can you explain this answer?.
If the simple interest on a sum of money for 2 years at 5% per annum is 200, what is the principal amount?a)1000b)2000c)4000d)5000Correct answer is option 'B'. Can you explain this answer? for Class 7 2025 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about If the simple interest on a sum of money for 2 years at 5% per annum is 200, what is the principal amount?a)1000b)2000c)4000d)5000Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 7 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the simple interest on a sum of money for 2 years at 5% per annum is 200, what is the principal amount?a)1000b)2000c)4000d)5000Correct answer is option 'B'. Can you explain this answer?.
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