Question
The simple interest received on a certain sum is Rs. 400
less than the sum invested. If the sum was invested at 15% p.a. for 5 years, then find the simple interest received.Solution
Let the sum invested be Rs. x Therefore, simple interest received = Rs. (x – 400) According to the question, {(x × 15 × 5)/100} = x – 400 => 0.75x = x – 400 => 0.25x = 400 => x = 400/0.25 = 1600 Therefore, simple interest received = x – 400 = 1600– 400 = Rs. 1200
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