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.
2000

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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).

$We know that S.I. = \frac{P \times R \times T}{100}$

$\Rightarrow P = \frac{S I \times 100}{T \times R}$

$= \frac{1000 \times 100}{5 \times 10}$

$= ₹ 2, 000$

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

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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.2000

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.
2000