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)?
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)
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