-   Here, I – Rs. 1770, R = 8% per annum,                  T = 15  years     2          Principal (P) = 100 x I = 100 x 1770       R x T 8 x 15 2  

Simple interest is the interest payable only on the principal sum and does not include any interest on the interest. The formula for calculating simple interest is:

Simple Interest = Principal Amount * Rate of Interest * Time

Here,
Principal Amount = ?
Rate of Interest = 8%
Time = 7 1/2 years
Interest = Rs. 1770

Now, we can use the above formula to calculate the Principal Amount.

Principal Amount = Interest / (Rate of Interest * Time)
= 1770 / (8% * 7 1/2 years)
= 1770 / 0.08 * 7.5
= Rs. 2950

Hence, the Sum of money that will produce Rs. 1770, interest in 7 1/2 years at 8% simple interest per annum is Rs. 2950.

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