Multiple choice

A person lent certain sum of money at the annual rate of 7 percent on simple interest and the interest received in 11 years is Rs. 920 less than the sum lent. What is the sum lent ?

  1. Rs. 41200

  2. Rs. 4000

  3. Rs. 52000

  4. Rs. 2400

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let sum = P. SI = P*7*11/100 = 0.77P. Given: P - 0.77P = 920. So 0.23P = 920, P = 920/0.23 = Rs. 4000.