Question

A person lent a certain sum of money at 4% simple interest and in 8 years the interest amount to Rs340 less than the sum lent find the sum lent

Answer 1

Let assume lent sum=x
Si=x-340
Si =prt/100
X-340=4*x*8/100
X-340= 8x/25
8x=25x-8500
25x-8x=8500
17x=8500
X=8500/17
X=500

Answer 2

The sum is 500

Step-by-step explanation:

Let the sum be x

We are given that interest earned is  Rs340 less than the sum lent

Interest = x-340

Time = 8 years

Rate of interest = 4%

Formula : $SI = \frac{P \times T \times R}{100}\\x-340=\frac{x \times 8 \times 4}{100}\\x=500$

Hence The sum is 500

#Learn more:

A person lent a certain sum of money at 4% simple interest and in 8 years the interest amount to Rs340 less than the sum lent find the sum lent

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