| A person lent a certain sum of money at 4%. Simple interest and in 8 yr the interest amounted to Rs. 340 less than the sum lent. Find the sum lent. |
A) Rs. 500
B) Rs. 550
C) Rs. 600
D) Rs. 400
Correct Answer: A
Solution :
| Let the sum be Rs. \[x.\] |
| \[\therefore \]Simple interest \[=\frac{8\times 4\times x}{100}=\frac{32x}{100}\] |
| Now, \[x-\frac{32x}{100}=\frac{68}{100}\] |
| When interest is \[\frac{68x}{100}\]less, the sum is Rs. \[x.\] |
| \[\therefore \]When interest is Rs. 340 less, the sum |
| \[=\frac{x}{68x}\times 100\times 340=\text{Rs}\text{.}\,\,\text{500}\] |
You need to login to perform this action.
You will be redirected in
3 sec
