On what principal will the simple interest be ₹ 7,008 in 6 years 3 months at 5% per year?

Given:

S.I. = ₹ 7,008

R = 5%

T = 6 years 3 months

= $\Big(6 + \dfrac{3}{12}\Big)$ years

= $\Big(6 + \dfrac{1}{4}\Big)$ years

= $\dfrac{25}{4}$ years

Let the Principal amount be ₹ $P$.

$\because \text{S.I.} = ₹ \Big(\dfrac{P \times R \times T}{100}\Big)\\[1em] \Rightarrow 7,008 = \Big(\dfrac{P \times 5 \times 25}{4 \times 100}\Big)\\[1em] \Rightarrow 7,008 = \Big(\dfrac{P \times 125}{400}\Big)\\[1em] \Rightarrow P = \Big(\dfrac{7,008 \times 400}{125}\Big)\\[1em] \Rightarrow P = \dfrac{28,03,200}{125}\\[1em] \Rightarrow P = 22,425.60$

Hence, the Principal amount be ₹ 22,425.60.