The simple interest on a principal amount (in Rs. ) is Rs. 531 for a period of 5 years at the rate of 9% per annum. The principal amount (in Rs. ) is:

Correct option is D

Given:

Simple Interest (SI) = Rs. 531
Time (T) = 5 years
Rate (R) = 9% per annum
Required: Principal (P)
Formula Used:
​$$\text{Simple Interest (SI)} = \frac{P \times R \times T}{100} \\$$​
Solution:

$$531 = \frac{P \times 9 \times 5}{100} \\\ \\531= \frac{45P}{100} \\\ \\P = \frac{531 \times 100}{45} \\\ \\P = \frac{53100}{45} = 1180$$