Question

A person lent a certain sum of money at 4% simple interest and 8 year the interest amounted to Rs.340 less than the amount lent, find the sum lent?

Answer 1

Answer:

Given, Time = 8 years. Rate = 4%

Formula: SI = Prt/100.

Calculation: Let Principal be Rs. ( x + 340) SI = Rs. x. According to the question. x = [(x + 340) × 4 × 8]/100. ⇒ x = [(x + 340) × 8]/25. ⇒ 25x = 8x + 340 × 8. ⇒ 25x - 8x = 340 × 8. ⇒ 17x = 340 × 8. ⇒ x = (340 × 8)/17. ⇒ x = 20 × 8. ⇒ x = Rs. 160.