Simple interest on a sum for eight months at 6% per annum is Rs 340.What is the value (in Rs) of sum?
Let principal amount = Rs. $$x$$
Rate of interest = 6% and time period = $$\frac{8}{12}=\frac{2}{3}$$ years
=> Simple interest = $$\frac{P\times R\times T}{100}$$
=> $$\frac{x\times6\times2}{3\times100}=340$$
=> $$\frac{x}{25}=340$$
=> $$x=340\times25=Rs.$$ $$8,500$$
=> Ans - (A)
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