Simple interest
- An old article is available for ₹ 12,000 at cash payment or is available for ₹ 7,000 cash payment and a monthly instalment of ₹630 for 8 months. The rate per cent per annum is
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As per the given in question , we have
Simple Interest = (7000 + 630 × 8) – 12000
Simple Interest = (7000 + 5040) – 12000
Simple Interest = 12040 – 12000 = 40
Total Principal = 5000 + 4370 + 3740 + 3110 + 2480 + 1850 + 1220 + 590 = ₹ 22360Correct Option: A
As per the given in question , we have
Simple Interest = (7000 + 630 × 8) – 12000
Simple Interest = (7000 + 5040) – 12000
Simple Interest = 12040 – 12000 = 40
Total Principal = 5000 + 4370 + 3740 + 3110 + 2480 + 1850 + 1220 + 590 = ₹ 22360
Rate = 40 × 100 ×12 ≈ 2.1% 22360 × 1
- Ramesh deposited 15600 in a fixed deposit at the rate of 10% per annum simple interest. After every second year, he adds his interest earnings to the principal. The interest at the end of fourth year is
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According to question ,
SI earned after two years = 15600 × 10 × 2 = ₹ 3120 100
∴ Principal for next two years = ₹ (15600 + 3120) = ₹ 18720
Correct Option: D
According to question ,
SI earned after two years = 15600 × 10 × 2 = ₹ 3120 100
∴ Principal for next two years = ₹ (15600 + 3120) = ₹ 18720SI earned at the end of fourth year = 18720 × 10 × 1 = ₹ 1872 100
- A part of ₹ 1500 was lent at 10% per annum and the rest at 7% per annum simple interest. The total interest earned in three years was ₹ 396. The sum lent at 10% was
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Let p be lent at 10% per annum.
∴ (1500 – p ) is lent at 7% per annum.Now, p × 10 × 3 + (1500 - p) × 7 × 3 = 396 100 100
Correct Option: A
Let p be lent at 10% per annum.
∴ (1500 – p ) is lent at 7% per annum.Now, p × 10 × 3 + (1500 - p) × 7 × 3 = 396 100 100
⇒ 30p + 31500 – 21p = 39600
⇒ 9p = 39600 – 31500
⇒ p = 8100 ÷ 9 = ₹ 900
- If A borrowed Rs. P at x% and B borrowed Rs. Q (> P) at y% per annum at simple interest at the same time, then the amount of their debts will be equal after
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Let amounts be equal in T years.
We can find the SI with the help of given formula ,S.I = Principal × Time × Rate 100 ∴ P + P × x × T = Q + Q × y × T 100 100 ⇒ PxT - QyT = Q - P 100 100 ⇒ T 
Px - Qy 
Q - P 100
Correct Option: A
Let amounts be equal in T years.
We can find the SI with the help of given formula ,S.I = Principal × Time × Rate 100 ∴ P + P × x × T = Q + Q × y × T 100 100 ⇒ PxT - QyT = Q - P 100 100 ⇒ T Px - Qy Q - P 100 ⇒ T = 100 Q - P Px - Qy
- Mohan lends Rs. 500 to John and a certain sum to Tom at the same time at a simple interest of 8% per annum. If in 4 years, he altogether receives Rs. 210 as interest from the two, then the sum of money he lent to Tom was
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Let the money lent to Tom be Rs. p.
As we know that ,Simple interest = Principal × Time × Rate 100 ∴ 500 × 8 × 4 + p × 8 × 4 = 210 100 100 ⇒ 160 + 32p = 210 100 32p = 210 - 160 = 50 100
Correct Option: C
Let the money lent to Tom be Rs. p.
As we know that ,Simple interest = Principal × Time × Rate 100 ∴ 500 × 8 × 4 + p × 8 × 4 = 210 100 100 ⇒ 160 + 32p = 210 100 32p = 210 - 160 = 50 100 ⇒ p = 50 × 100 = Rs. 156.25 32
