Question

5. The simple interest on a sum of money at 8% p.a. for 2 years is Rs. 1120
less than the simple interest on the same sum of money for two years at
the same rate of interest. How much money was lent?​

Answer 1

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Correct option is

D

Rs 600

⇒  S.I. for 2 years = Rs. 720.

⇒  S.I. for 7 years = Rs. 1020

∴   S.I. for 5 years = Rs. 1020− Rs. 720= Rs. 300.

⇒  S.I. for 2 years =5300×2=Rs.120

⇒  Principal=720−120=Rs.600

∴  The sum is Rs.600.