dipankar invested a sum of money from march 2003 to march 2008 at the rate of 12 % p.a if the intrest receive is rs 1620 find the sum

Answer:

Simple Interest = SI = P x R x T /100

Principle Amount = P = ?

Rate of Interest = R = 12%

Time = T = 2008 - 2003 = 5 years

Simple Interest = SI = Rs. 1620

So:

SI = P x R x T /100

1620 = Px12x5/100

60P = 162000

P = 162000/60 = Rs. 2700.

Ans: Rs. 2700.