Quantitative Aptitude Interest Simple Interest

If the simple interest on a certain sum of money is ₹11,220 at the rate of \(16 \frac{1}{2} \%\) per annum for 8 years and 3 months, then what is the principal amount (in ₹, rounded off to the nearest rupee)?

1
4,228
2
6,822
3
8,422
4
8,242

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