Question : Find the capital which gives ₹ 1 as interest per month at 5 % rate of interest per annum.
solution : Interest ( I ) = ₹ 1
Time ( T ) = 1 month = 1 / 12 years
Rate ( R ) = 5 %
Principal ( P ) = I × 100 / ( T × R )
= 1 × 100 / { ( 1 /2 ) × 5 }
= ₹ { 12 / ( 1 × 20 ) }
= ₹ 240
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