Simple interest
- The difference of simple interest from two banks for ₹ 1000 in 2 yr is ₹ 20. Find the difference in rates of interest.
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Let the two rates be R1 and R2
According to the question,
[(1000 x 2 x R1)/100] - [(1000 x 2 x R2)/100] = 20Correct Option: C
Let the two rates be R1 and R2
According to the question,
[(1000 x 2 x R1)/100] - [(1000 x 2 x R2)/100] = 20
⇒ [2000 x (R1 - R2)] / 100 = 20
∴ R1 - R2 = 20/20 = 1%
- Raju lent ₹ 400 to Ajay for 2 yr and ₹ 100 to Manoj for 4 yr and received from both ₹ 60 as collective interest, Find the rate of interest, simple interest being calculated.
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Let rate is R%
According to the question.
[(R x 400 x 2)/100] + [(R x 100 x 4)/100] = 60Correct Option: A
Let rate is R%
According to the question.
[(R x 400 x 2)/100] + [(R x 100 x 4)/100] = 60
⇒ 12R = 60
∴ R = 60/12 = 5%
- 2/3 part of my sum is lent out at 3%, 1/6 part is Lent out at 6% and remaining part is lent out 12% All the three parts are lent out at simple interest. If the annual income is ₹ 25, what is the sum ?
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Let entire sum = P
According to the question,
[(2P/3) x 3%] + [(P/6) x 6%] + [1 - ( 2/3 + 1/6 )] P x 12% = 25Correct Option: A
Let entire sum = P
According to the question,
[(2P/3) x 3%] + [(P/6) x 6%] + [1 - ( 2/3 + 1/6 )] P x 12% = 25
⇒ [(2P/3) x (3/100)] + [(P/6) x (6/100)] + [1 - 4 + 1/6] x (12P/100) = 25
⇒ 2P/100 + P/100 + 2P/100 = 25
⇒ 5P = 2500,
∴ P = 500
- Suresh borrowed ₹ 800 at 6% and Naresh borrowed ₹ 600 at 10% After how much time will they both have equal debts ?
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Given, R1 = 6% R2 = 10%
According to the question,
800 + [(800 x 6 x T)/100] = 600 + [(600 x 10 x T)/100]Correct Option: D
Given, R1 = 6% R2 = 10%
According to the question,
800 + [(800 x 6 x T)/100] = 600 + [(600 x 10 x T)/100]
800 + 48T = 600 + 60T
⇒ 12T = 200
⇒ 3T = 50
∴ T = 50/3 = 162/3 yr
- A sum of ₹ 1521 lent out two parts in such a way that the interest on one part at 10% for 5 yr is equal to that of another part at 8% for 10 yr. What will be the two parts of sum ?
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Given, T1 = 5 yr, R1 = 10% and
T2 = 10 yr, R2 = 8%
Let the first part = P
Then, second part = (1521 - P)
Now, according to the question.
[(P x 5 x 10)/100] = [{(1521 - P) x 10 x 8}/100]Correct Option: D
Given, T1 = 5 yr, R1 = 10% and
T2 = 10 yr, R2 = 8%
Let the first part = P
Then, second part = (1521 - P)
Now, according to the question.
[(P x 5 x 10)/100] = [{(1521 - P) x 10 x 8}/100]
⇒ 5P = 12168 - 8P
⇒ 13P = 12168
⇒ P = ₹ 936
So second part = 1521 - 936 = ₹ 585