Question

A person lent a certain sum of money at $4$% simple interest and in $8$ years the interest amount to $Rs.340$ less than the sum lent. What was the sum lent?

• A. $500$
• B. $300$
• C. $100$
• D. $400$

Answer 1

The correct option is A $500$

Let assume lent sum=x
Si = x-340
Si = prt/100
$x-340=\frac{4\times x\times 8}{100}$
x -340= 8x /25
8x = 25x -8500
25x - 8x = 8500
17x = 8500
x = 8500/17
x = 500