wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

If Harish earns simple interest of ₹1000 by lending money to his friend at an interest of 10% per annum for 5 years, then find the money lent by him.
  1. 2000

Open in App
Solution

The correct option is A 2000
Given: Simple interest, SI = ₹1,000
Rate of interest, R = 10%
Time period, T = 5 years

To find: The principal amount (P).

We know that S.I. = P×R×T100

P=SI×100T×R

=1000×1005×10

=2,000

Therefore, to earn a simple interest of ₹1000, Harish should lend ₹2000 for 5 years.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Prices Related to Buying and Selling
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon