Mathematics for FinancePYQ Nov 18Question 1279 of 512
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What principal will amount to 370\displaystyle 370 in 6\displaystyle 6 years at 8%\displaystyle 8\% p.a. at simple interest

Options

A210\displaystyle 210
B250\displaystyle 250
C310\displaystyle 310
D310\displaystyle 310
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Correct Answer

✅ Option b — 250\displaystyle 250

All Options:

  • A210\displaystyle 210
  • B250\displaystyle 250
  • C310\displaystyle 310
  • D310\displaystyle 310

Detailed Solution & Explanation

**Derivation of Principal Amount** Given: - Future Value under simple interest (A\displaystyle A) = Rs. 370\displaystyle \text{Rs. }370 - Time (t\displaystyle t) = 6\displaystyle 6 years - Rate (r\displaystyle r) = 8%\displaystyle 8\% per annum **Step 1: Set up the Simple Interest Amount equation** A=P(1+r×t100)A = P\left(1 + \frac{r \times t}{100}\right) 370=P(1+8×6100)370 = P\left(1 + \frac{8 \times 6}{100}\right) 370=P(1+0.48)370 = P(1 + 0.48) 370=1.48P370 = 1.48 P **Step 2: Solve for P\displaystyle P** P=3701.48=Rs. 250P = \frac{370}{1.48} = \text{Rs. }250 Hence, **Option B** is the correct answer.

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