Ramya lent a certain sum of money at 4% simple interest to Seema and in 8 years the interest amounted to ₹3,400 less than the sum lent. Find the sum lent by Ramya to Seema. |
₹3,050 ₹6,100 ₹8,200 ₹5,000 |
₹5,000 |
Let money lent by Ramya to Seema = P ATQ , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) P - 3400 = \(\frac{P × 4 × 8 }{100}\) P - 3400 = \(\frac{8P }{25}\) P - \(\frac{8P }{25}\) = 3400 \(\frac{17P }{25}\) = 3400 P = Rs.5000 |