The principal on which a simple interest of Rs. 55 will be obtained

The principal on which a simple interest of Rs. 55 will be obtained after 9 months at the rate of 3⅔% per annum is

  1. Rs. 1000
  2. Rs. 1500
  3. Rs. 2000
  4. Rs. 2500

Answer

Let the principal amount be Rs. P.

Rate of interest = 11/3 % and time = 9/12 years.

So, Simple interest = P × (11/300) × (9/12) = 55

P = (55 × 12 × 300) / (9 × 11) = Rs. 2000

The correct option is C.