Question 85

A person lent certain sum of money at 10% per annum simple interest. In 20 years the interest amounted to Rs 500 more than the sum lent. What was the sum lent (in Rs)?

Solution

Let sum rent = Rs. $$100x$$

Rate of interest = 10% and time period = 20 years

Simple interest = $$\frac{P\times r\times t}{100}$$

=> $$\frac{100x\times10\times20}{100}=500+100x$$

=> $$200x=500+100x$$

=> $$200x-100x=500$$

=> $$100x=500$$

=> Ans - (B)

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: