A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
Rs. 4462.50
Rs. 8032.50
Rs. 8900
Rs. 8925
Explanation:
Principal = Rs.$ \left(\dfrac{100 \times 4016.25}{9 \times 5} \right) $
= Rs.$ \left(\dfrac{401625}{45} \right) $
= Rs. 8925.