Rasel obtained an amount of Tk. 8376 as simple interest on a certain amount at 8 p.c.p.a. after 6 years. What is the amount invested by Rasel?

Question: Rasel obtained an amount of Tk. 8376 as simple interest on a certain amount at 8 p.c.p.a. after 6 years. What is the amount invested by Rasel?

Solution:
Here,
Simple interest, I = Tk. 8376
Rate of interest, r = 8%
Time, n = 6 years

We know,
I = Pn(r/100)
Or, P = 100I/nr
= (8376 × 100)/(6 × 8)
∴ P = 17450 Tk.