# A certain sum of money was lent at 8% per annum simple interest and in 9 years the interest amounted to Rs. 2800 less than the sum lent. What was the

37 views

closed
A certain sum of money was lent at 8% per annum simple interest and in 9 years the interest amounted to Rs. 2800 less than the sum lent. What was the sum lent (in Rs.)?
1. Rs. 10000
2. Rs. 12000
3. Rs. 18000
4. Rs. 11200

by (59.8k points)
selected by

Correct Answer - Option 1 : Rs. 10000

Given:

Rate (R) = 8%

Time (T) = 9 years

Formula used:

S.I. = (P × R × T)/100

Where, S.I. → Simple Interest

P → Principal

R → Rate

T → Time

Calculations:

Let the amount lent be Rs. P.

According to the question,

S.I. = (P × R × T)/100

⇒ (P × 8 × 9)/100

⇒ S.I. = 72P/100

So, (P – 72P/100) = 2800

⇒ P = 10000

∴ The required sum is Rs. 10000.