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A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.?
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A sum was lent for 8 years at 4% per annum on Simple Interest. The int...
Solution:
To find the sum that was lent, we can use the formula for Simple Interest which is:
Simple Interest = (Principal x Rate x Time) / 100
Given that the interest is Rs.340 less than the sum lent, we can write this as:
Interest = Principal x Rate x Time
Sum Lent = Principal
Interest = Principal - Rs.340
Let's substitute the given values into the formula:
Rate = 4%
Time = 8 years
Now, we can rewrite the formula for Simple Interest as:
Principal x 4 x 8 / 100 = Principal - Rs.340
Solving this equation will give us the value of Principal (sum that was lent).
Calculation:
- Multiply the Principal by 4 and then by 8, then divide the result by 100
- Set this equal to the Principal minus Rs.340
- Solve for the Principal
After performing the calculations, the principal amount comes out to be Rs. 8500.
Therefore, the sum that was lent is Rs. 8500.
To find the sum that was lent, we can use the formula for Simple Interest which is:
Simple Interest = (Principal x Rate x Time) / 100
Given that the interest is Rs.340 less than the sum lent, we can write this as:
Interest = Principal x Rate x Time
Sum Lent = Principal
Interest = Principal - Rs.340
Let's substitute the given values into the formula:
Rate = 4%
Time = 8 years
Now, we can rewrite the formula for Simple Interest as:
Principal x 4 x 8 / 100 = Principal - Rs.340
Solving this equation will give us the value of Principal (sum that was lent).
Calculation:
- Multiply the Principal by 4 and then by 8, then divide the result by 100
- Set this equal to the Principal minus Rs.340
- Solve for the Principal
After performing the calculations, the principal amount comes out to be Rs. 8500.
Therefore, the sum that was lent is Rs. 8500.
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A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.?
Question Description
A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.?.
A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum was lent for 8 years at 4% per annum on Simple Interest. The interest is Rs.340 less than the sum lent. Find the sum.?.
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