Find the principle on a certain sum of money at 5% per annum for 3 1/5 years if the amount being Rs.1160? Choose the correct choice from the following answers.
A) rs . 1000  B) rs . 1100  C) rs . 1010  D) rs . 10000  E) none of these

Rationale: "explanation : 1160 = p [ 1 + ( 5 * 16 / 5 ) / 100 ] p = 1000 answer : option a"
Answer: A