Quantitative Aptitude Ques 770

Question: A person lent a certain sum of money at 4%. Simple interest and in 8 yr the interest amounted to Rs. 340 less than the sum lent. Find the sum lent.

Options:

A) Rs. 500

B) Rs. 550

C) Rs. 600

D) Rs. 400

Show Answer

Answer:

Correct Answer: A

Solution:

  • Let the sum be Rs. $ x. $

$ \therefore $ Simple interest $ =\frac{8\times 4\times x}{100}=\frac{32x}{100} $ Now, $ x-\frac{32x}{100}=\frac{68}{100} $ When interest is $ \frac{68x}{100} $ less, the sum is Rs. $ x. $

$ \therefore $ When interest is Rs. 340 less, the sum $ =\frac{x}{68x}\times 100\times 340=Rs\text{.}500 $

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