Answer:
Rs.833.94
Step-by-step explanation:
To solve for the sum of money or principal, we use the formula:
[tex]P=\dfrac{A}{1+rt}[/tex]
The current variables we have are:
A = Rs.1,155
r = 11% or 0.11
t = 3.5
Now let's plug the variables into the formula.
[tex]P=\dfrac{A}{1+rt}[/tex]
[tex]P=\dfrac{1,155}{1+(0.11)(3.5)}[/tex]
[tex]P=\dfrac{1,155}{1+0.385}[/tex]
[tex]P=\dfrac{1,155}{1.385}[/tex]
[tex]P=Rs.833.94[/tex]
