Correct Answer - Option 2 : 1500
Given:
Bhavya prepare to lend 8000 for 3 years at rate of 10% but at the time of lending he lends less amount due to which her total gain decreases by 450 Rs.
Formula:
Amount under simple interest = P × r × t/100
Amount under compound interest = P (1 + r/100) ^t
Calculation:
Initial income= 8000×30/100= Rs. 2400
Less her reduced income=450
Final interest income= 1950
Amount invested= 1950/30×100= Rs. 6500
Reduced investment= 8000-6500 = 1500