The simple interest on a principal amount (in Rs. ) is Rs. 888 for a period of 8 years at the rate of 2% per annum. The principal amount (in Rs. ) is:

Correct option is D

Given:

Simple Interest (SI) = Rs. 888
Time = 2 years
Rate = 8% per annum
Formula Used:
$$\text{Simple Interest (SI)} = \frac{P \times R \times T}{100} \\\\$$​​
Solution:

$$888 = \frac{P \times 8 \times 2}{100}\\\ \\P = 5550$$