Question

Aman will earn Rs 3000 as interest in 5 years. If he lends a certain sum of money to Himanshu at 15% per annum on simple interest. Find how much money Aman lends to himanshu
1. Rs 4000
2. Rs 2500
3. Rs 5000
4. Rs 4500

Answer 1

Correct Answer - Option 1 : Rs 4000

Given:

Aman will earn in 5 year = Rs 3000 

Time = 5 years

Formula Used: 

Principal = (simple Interest × 100)/(rate × time)

Calculation:

Principal = (simple Interest × 100)/(rate × time)

⇒ Principal = (3000 × 100)/(15 × 5)

⇒ Principal = Rs 4000

∴ Aman lends to himanshu is Rs. 4000