The simple interest earned on a certain sum of money for 3 years at 15% per annum is ₹2,700. Find the sum.
₹6,000
To find the sum on which a simple interest of ₹2,700 is earned at 15% per annum over 3 years, we can use the formula for simple interest:
\(SI = \frac{P \times R \times T}{100}\)
Where:
- \(SI\) is the Simple Interest
- \(P\) is the Principal amount (sum to be found)
- \(R\) is the Rate of interest (15% per annum)
- \(T\) is the Time period (3 years)
We know \(SI = ₹2,700\), \(R = 15\), and \(T = 3\). Substituting these values into the formula gives us:
\(2700 = \frac{P \times 15 \times 3}{100}\)
Simplify the equation:
\(2700 = \frac{45P}{100}\)
Rearrange to solve for \(P\):
\(P = \frac{2700 \times 100}{45}\)
Calculate the value of \(P\):
\(P = \frac{270000}{45} = 6000\)
The principal sum is therefore \(₹6,000\).
Hence, the correct option is ₹6,000.
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