A person borrowed a certain sum at 8% p.a. simple interest and in 8 years, the interest accrued was ₹5,490 less than the sum borrowed. The sum was: |
₹15,500 ₹15,250 ₹14,280 ₹15,600 |
₹15,250 |
Let initial sum = P We know, Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) P - 5490 = \(\frac{P × 8 × 8 }{100}\) P - 5490 = \(\frac{64P }{100}\) \(\frac{36P }{100}\) = 5490 P = 152.5 × 100 = Rs. 15250 |