Simple interest
- The simple interest on ₹7,300 from 11 May, 1987 to 10 September, 1987 (both days included) at 5% per annum is
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Given that , P = ₹7,300 , R = 5%
Time from 11 May to 10 September, 1987 = 21 + 30 + 31 + 31 + 10 = 123 days∴ Time = 123 days = 123 Year 365 ∴ SI = P × T × R 365 × 100
Correct Option: A
Given that , P = ₹7,300 , R = 5%
Time from 11 May to 10 September, 1987 = 21 + 30 + 31 + 31 + 10 = 123 days∴ Time = 123 days = 123 Year 365 ∴ SI = P × T × R 365 × 100 ⇒ SI = 7300 × 123 × 5 = ₹ 123 365 × 100
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per annum exceeds thesimple interest on the same sum for 8 months atIf the simple interest on a certain sum of money for 15 months at 7 1 % 2 12 1 % per annum by ₹32.50, then the sum of money (in ₹) is : 2
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Let the sum be y.
We find the required answer with the help of given formula,SI = PTR 100 ⇒ y × (15 /12) × (15 / 2) - y × (8 / 12) × (25 / 2) = 32.50 100 100 ⇒ 25y = 32.50 2400
Correct Option: C
Let the sum be y.
We find the required answer with the help of given formula,SI = PTR 100 ⇒ y × (15 /12) × (15 / 2) - y × (8 / 12) × (25 / 2) = 32.50 100 100 ⇒ 25y = 32.50 2400 ⇒ y = 32.50 × 2400 = 3120 25
∴ Required sum = 3120
- The sum of money, that will give 1 as interest per day at the rate of 5% per annum simple interest is
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According to question ,
The sum of money will give ₹365 as simple interest in a year.⇒ S.I = PRT 100 ⇒ 365 = P × 5 × 1 100
Correct Option: D
According to question ,
The sum of money will give ₹365 as simple interest in a year.⇒ S.I = PRT 100 ⇒ 365 = P × 5 × 1 100 P = 365 × 100 = ₹7300 5
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years and to 1,067.20 in 4 years. The rate of interest per annum is :A sum of money at simple interest amounts to 1,012 in 2 1 2
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According to question ,
Principal + S.I. for 5 yrs = ₹ 1012.............(i) 2
Principal + S.I. for 4 years = 1067.20 ...(ii)
Subtracting equation (i) from (ii)S.I. for 3 yrs = ₹ 55.20 2 ∴ S.I. for 5 yrs = 55.20 × 2 × 5 = ₹ 92 2 3 2
∴ Principal = Amount - SI = (1012 – 92) = ₹920∴ Rate = 92 × 100 920 × 5 2 Rate = 2 × 92 × 100 = 4% 920 × 5
Second method to solve this question :
Here , A2 = ₹ 1067.20 , T1 = 5 /2 years , A1 = ₹ 1012 , T2 = 4 yearsR = 
A1 - A2 
× 100 A2T1 - A1T2
Correct Option: C
According to question ,
Principal + S.I. for 5 yrs = ₹ 1012.............(i) 2
Principal + S.I. for 4 years = 1067.20 ...(ii)
Subtracting equation (i) from (ii)S.I. for 3 yrs = ₹ 55.20 2 ∴ S.I. for 5 yrs = 55.20 × 2 × 5 = ₹ 92 2 3 2
∴ Principal = Amount - SI = (1012 – 92) = ₹920∴ Rate = 92 × 100 920 × 5 2 Rate = 2 × 92 × 100 = 4% 920 × 5
Second method to solve this question :
Here , A2 = ₹ 1067.20 , T1 = 5 /2 years , A1 = ₹ 1012 , T2 = 4 yearsR = A1 - A2 × 100 A2T1 - A1T2 R = 1012 - 1067.20 × 100 1067.20 ×(5 ÷2) - 1012 × 4 R = - 55.2 × 100 (2668 - 4048) R = - 55.2 × 100 - 1380
R = 4%
- At some rate of simple interest, A lent 6,000 to B for 2 years and 1,500 to C for 4 years and received 9,00 as interest from both of them together. The rate of interest per annum was
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Here , P1 = ₹ 6000 , P2 = ₹ 1500 , T1 = 2 years , T2 = 4 years and SI = ₹ 900
If rate of interest be R% per annum then,SI = Principal × Time × Rate 100
Correct Option: A
Here , P1 = ₹ 6000 , P2 = ₹ 1500 , T1 = 2 years , T2 = 4 years and SI = ₹ 900
If rate of interest be R% per annum then,SI = Principal × Time × Rate 100 ∴ 900 = 6000 × 2 × R + 1500 × 4 × R 100 100
⇒ 120R + 60R = 900
⇒ 180R = 900
⇒ R = 900 ÷ 180 = 5%
