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Discussion :: Simple Interest

  1. A person lent a certain sum of money at 4% per annum at simple interest and in 8 years the interest amounted to Rs.340 less than the sum lent. What was the sum lent?
    2. A.
    Rs.400
    B.
    Rs.450
    C.
    Rs.550
    D.
    Rs.500

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    Answer : Option D

    Explanation :

    P - 340 = (P*4*8)/100

    P = 500

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