Simple interest on a sum for eight months at the rate of 8 percent per annum is ₹480. What is the value of sum?

Correct option is C

Given:
Simple Interest (SI) = ₹480
Time = 8 months = 8/12 = 2/3 years
Rate = 8% per annum
Find the Principal (sum)

Formula Used:

$$SI = \frac{P \times R \times T}{100}$$

Solution:

$$480 = \frac{P \times 8 \times \frac{2}{3}}{100} \\\ \\\Rightarrow 480 = \frac{16P}{300} \\\ \\\Rightarrow P = \frac{480 \times 300}{16} \\\ \\\Rightarrow P = \frac{144000}{16} = ₹9000$$

​Final Answer: (C) ₹9000