Find the principle on a certain sum of money at 5% per annum for 3 1/5 years if the amount being Rs.1740? Choose the correct choice from the following answers
A) Rs.1000  B) Rs.1550  C) Rs.1510  D) Rs.1500  E) None of these
Explanation:   1740 = P [1 + (5*16/5)/100]   P= 1500   Answer: Option Rs.1500
<result>D</result>
Find the principle on a certain sum of money at 5% per annum for 3 1/5 years if the amount being Rs.1740?