Simple interest
- Simple interest for the sum of ₹ 1230 for 2 yr is ₹ 10 more than the simple interest for ₹ 1130 for the same duration. Find the rate of interest.
`
-
View Hint View Answer Discuss in Forum
According to the question,
[(1230 x 2 x R)/100] - [(1130 x 2 x R)/100] = 10Correct Option: A
According to the question,
[(1230 x 2 x R)/100] - [(1130 x 2 x R)/100] = 10
⇒ (200 x R)/100 = 10
∴ R = 5%
- For a certain sum, the simple interest in 2 yr at 8% per annum is ₹ 110 more than the simple interest in 1 yr at the ratio of 5% per annum for the same sum. Find the sum.
-
View Hint View Answer Discuss in Forum
Given, SI1 - SI2 = 110,
T1 = 2 Yr,
T2 = 1 yr, R1 = 8%, R2 = 5%
According to the question,
[(P x 8 x 2)/100] - [(P x 5 x 1)/100] = 110Correct Option: B
Given, SI1 - SI2 = 110,
T1 = 2 Yr,
T2 = 1 yr, R1 = 8%, R2 = 5%
According to the question,
[(P x 8 x 2)/100] - [(P x 5 x 1)/100] = 110
⇒ 11P/100 = 110
∴ P = ₹ 1000
- A sum was invested for 4 yr at a certain rate of simple interest. If it had been invested at 2% more annual rate of interest, then ₹ 56 more would have been obtained. What is the sum ?
-
View Hint View Answer Discuss in Forum
According to the question
[P x (R + 2) x 4]/100 - [P x R x 4]/100 = 56
⇒ (4PR + 8P - 4PR)/100 = 56Correct Option: B
According to the question
[P x (R + 2) x 4]/100 - [P x R x 4]/100 = 56
⇒ (4PR + 8P - 4PR)/100 = 56
⇒ 8P/100 = 56
∴ P = (56 x 100)/8 = ₹ 700
- A sum becomes 6 fold at 5% per annum. At what rate, the sum becomes 12 fold ?
-
View Hint View Answer Discuss in Forum
SI at 5% = 6P - P = 5P
∴ 5P = (P x 5 x T) /100
⇒ T = 100 yr
Now, for new rate (R),
11P = (P x R x 100)/100Correct Option: D
SI at 5% = 6P - P = 5P
∴ 5P = (P x 5 x T) /100
⇒ T = 100 yr
Now, for new rate (R),
11P = (P x R x 100)/100
∴ R =11%
- A sum becomes two fold in 6 yr at a certain rate of interest. Find the time, in which the same mount will be 10 fold at the same rate of interest.
-
View Hint View Answer Discuss in Forum
Here, n = 2, m =10, T1 = 6 yr, T2 = ?
∴ T2 = [(m - 1) / (n - 1)] x T1Correct Option: D
Here, n = 2, m =10, T1 = 6 yr, T2 = ?
∴ T2 = [(m - 1) / (n - 1)] x T1
= [(10 - 1)/(2 - 1)] x 6
= 54 yr