Question
Download Solution PDFA person lent certain sum of money at the annual rate of 25 percent on simple interest. In 6 years the interest amounted to Rs. 360 more than the sum lent. What is the sum lent?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Rate = 25%
Time = 6
Formula used:
SI =(PRT)/100
Here,
P = Sum
R = rate
T = time
Calculation:
Let the amount lent be Rs. y
According to the question,
360 + y = (y × 6 × 25)/100
⇒ 360 + y = 1.5y
⇒ 360 = 1.5y - y
⇒ 360 = 0.5y
⇒ y = 720
∴ The sum lent is Rs. 720.
Last updated on Jul 17, 2025
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