Q:
A man lent a sum of money at the rate of simple interest of 4%. If the interest for 8 years is Rs 340 less than the principal, the principal is
Answer & Explanation
Answer: A) Rs 500
Explanation: Rate = 4%
Time = 8 years
Simple Interest = PTR/100
= 32P/100
Given, P –32P/100 = 34068
P = 34000
P = 500
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