The simple interest on a principal amount (in Rs. ) is Rs. 284 for a period of 2 years at the rate of 5% per annum. The principal amount (in Rs. ) is:

Correct option is B

Given:
Simple Interest (SI) = Rs. 284
Time = 2 years
Rate = 5% per annum
Formula Used:
$$\text{Simple Interest (SI)} = \frac{P \times R \times T}{100} \\\\$$​​
Solution:

$$284 = \frac{P \times 5 \times 2}{100} \\\ \\284 = \frac{10P}{100} \\\ \\\Rightarrow 284 = \frac{P}{10} \\\ \\P = 284 \times 10 = 2840$$