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      Question

      The simple interest received on a certain sum is Rs. 500

      less than the sum invested. If the sum was invested at 12% p.a. for 8 years, then find the simple interest received.
      A Rs. 12550 Correct Answer Incorrect Answer
      B Rs. 12750 Correct Answer Incorrect Answer
      C Rs. 12500 Correct Answer Incorrect Answer
      D Rs. 12000 Correct Answer Incorrect Answer

      Solution

      Let the sum invested be Rs. x Therefore, simple interest received = Rs. (x – 500) According to the question, {(x × 12 × 8)/100} = x – 500 => 0.96x = x – 500 => 0.04x = 500 => x = 500/0.04 = 12500 Therefore, simple interest received = x – 50= 12500– 500 = Rs. 12000

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