Question

A person lent a certain sum of money at 4 % per annum and simple interest and in 8 years the interest amounted to Rs.340 less than the sum lent.what was the sum lent?

Answer 1

Let the sum be x.

R=4% p.a.

T=8 years

SI=x*4*8 / 100 =8x / 25

According to the question,

x - 8x/25 = 340

17x/25=340

x=340*25 / 17=500

so, sum lent was Rs. 500

Answer 2

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Here is your answer
Let the Sum is x
R = 4%
T = 8 years
SI = x - 340

As we know the formula

SI = PRT/100
$x - 340 = \frac{x \times 4 \times 8}{100} \\ x - 340 = \frac{8x}{25} \\ x - \frac{8x}{25} = 340 \\ \frac{25x - 8x}{25} = 340 \\ \frac{17x}{25} = 340 \\ x = \frac{340 \times 25}{17} \\ x = 20 \times 25 \\ x = 500$

Therefore the Sum is Rs 500

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