The principal which gives Rs.1 interest per day at a rate of 5% simple interest per annum is

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Asked: January 2, 20222022-01-02T15:36:24+05:30 2022-01-02T15:36:24+05:30Category: Number Puzzles

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Mighty Ashish · Answer 1 · 2022-01-02T15:38:45+05:30

Explanation:

According to the question,

Interest = 1 Rs. per day

∴Interest in one year=1×365=Rs.365

∴SI=P×R×T\100

365=P×5×1\100

P=365×100\5=73×100=Rs.7300