Discussion
What sum of money will produce Rs.70 as simple interest in 4 years at 3 1/2 percent?
Answer: B
\[ \text{SI} = \frac{P \times R \times T}{100} \]
\[ 70 = \frac{P \times 3.5 \times 4}{100} = 0.14P \]
\[ P = \frac{70}{0.14} = \text{Rs. } 500 \]
Over four years at 3.5% the interest comes to 14% of the sum.
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