Multiple choice

Bashant lent a sum of money at the rate of simple interest 4%. If the interest for 8 years is Rs. 340 less than the principal, then what was the principal? बसंत एक धनराशि 4% की साधारण ब्याज की दर से उधार लेता है। यदि 8 वर्ष के लिए ब्याज मूलधन से 340 रू. कम है, तो मूलधन कितना था?

  1. Rs. 500

  2. Rs. 5000

  3. Rs. 400

  4. Rs. 600
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A Correct answer
Explanation

Simple interest = P × R × T = P × 0.04 × 8 = 0.32P. Given interest is 340 less than principal: 0.32P = P - 340, so 0.68P = 340, P = 340/0.68 = 500.

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