Question
The simple interest received on a certain sum is Rs. 500
less than the sum invested. If the sum was invested at 10% p.a. for 6 years, then find the simple interest received.Solution
Let the sum invested be Rs. x Therefore, simple interest received = Rs. (x – 500) According to the question, {(x × 10 × 6)/100} = x – 500 => 0.60x = x – 500 => 0.40x = 500 => x = 500/0.40 = 1250 Therefore, simple interest received = x – 500 = 1250– 500 = Rs. 750
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