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A person lent a certain sum of money at $4 %$ simple interest and in $5$ years, the interest amounted to Rs. $520$ less than the sum lent. The sum lent was

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Rs.

650

Rs.

750

Rs.

600

Rs.

700

answer is B.

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Detailed Solution

Given that a person lent a certain sum of money at

4 %

simple interest and in

5

years, the interest amounted to Rs.

520

less than the sum lent.
Let the sum lent be

Rs . x

We know that, simple interest

= \frac{P \times R \times T}{100}

, where P = principal, T = time, R = rate.
The interest in

5

years

= \frac{x \times 4 \times 5}{100}

From the given:

\frac{x \times 4 \times 5}{100} = x - 520

\Rightarrow \frac{x}{5} = x - 520

\Rightarrow x - \frac{x}{5} = 520

\Rightarrow \frac{5 x - x}{5} = 520

\Rightarrow \frac{4 x}{5} = 520

\Rightarrow 4 x = 520 \times 5

\Rightarrow x = \frac{520 \times 5}{4}

\Rightarrow x =

Rs.

650

Thus, the sum lent is Rs.

650

.
Therefore, the correct option is 2.

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