Simple interest
- Ram lent ₹ 1200 to Shyam for 5 years and ₹ 1500 to Mohan for 2 years received altogether ₹ 900 as interest. Find the rate per annum.
-
View Hint View Answer Discuss in Forum
As per the given in question ,
SI = SI1 + SI2SI = P1RT1 + P2RT2 100 100 SI = R (P1T1 + P2T2) 100 or, R = 100 × I P1T1 + P2T2
Here, SI = ₹ 900 , P1 = ₹ 1200 , T1 = 5 years , P2 = ₹ 1500 , T2 = 2 yearsRate = 100 × 900 (1200 × 5) + (1500 × 2)
Correct Option: D
As per the given in question ,
SI = SI1 + SI2SI = P1RT1 + P2RT2 100 100 SI = R (P1T1 + P2T2) 100 or, R = 100 × I P1T1 + P2T2
Here, SI = ₹ 900 , P1 = ₹ 1200 , T1 = 5 years , P2 = ₹ 1500 , T2 = 2 yearsRate = 100 × 900 (1200 × 5) + (1500 × 2) Rate = 90000 9000
R = 10%.
Note : In case of more than two investment, sum the products of principal and time of each case.
- Find the amount Ram will get after 2 years when he invests ₹ 15000 at 15% interest.
-
View Hint View Answer Discuss in Forum
Here, P = ₹ 15000 , R = 15% , T = 2 years
We can find the required answer with the help of given formula ,A = P 
100 + RT 
100 Amount = 15000 100 + 15 × 2 100
Correct Option: B
Here, P = ₹ 15000 , R = 15% , T = 2 years
We can find the required answer with the help of given formula ,A = P 100 + RT 100 Amount = 15000 100 + 15 × 2 100 A = 15000 × 130 100
A = ₹ 19500.
- Find the interest on ₹ 1460 at 10% from 5th February, 1992 to 25th April, 1992.
-
View Hint View Answer Discuss in Forum
Given that , P = ₹ 1460
R = 10%
1992 is a leap year .
∴ T = (24 + 31 + 25) days = 80 days
As we know that ,I = PRD 36500
Correct Option: A
Given that , P = ₹ 1460
R = 10%
1992 is a leap year .
∴ T = (24 + 31 + 25) days = 80 days.
As we know that ,I = PRD 36500 I = 1460 × 10 × 80 36500
I = ₹ 32.
Note : We have excluded 5th February but included 25th
- 4 years, ₹ 6000 amounts to ₹ 8,000. In what time at the same rate will ₹ 525 amount to 700 ?
-
View Hint View Answer Discuss in Forum
Case-I,
Simple Interest = 8000 – 6000 = Rs. 2000Rate = Simple Interest × 100 Principal × Time Rate = 2000 × 100 = 25 % 6000 × 4 3
∴ Case-II,Time = Simple Interest × 100 Principal × Rate
Correct Option: C
Case-I,
Simple Interest = 8000 – 6000 = Rs. 2000Rate = Simple Interest × 100 Principal × Time Rate = 2000 × 100 = 25 % 6000 × 4 3
∴ Case-II,Time = Simple Interest × 100 Principal × Rate Time = 175 × 100 = 4 Years. 525 × 25 3
- A person on retirement gets Rs. 3,20,000 from his gratuity and P.F. He wants to invest this amount in Post Office and Bank in such a way that he earns a total interest of Rs. 27,600 every year. If the annual rate of interest in Post Office and Bank be respectively 9% and 8%, What are the amounts invested in Post Office and Bank respectively ?
-
View Hint View Answer Discuss in Forum
Let the amount in Post office be Rs. p.
∴ Amount in Bank = Rs. (320000 – p)
We can find the SI with the help of given formula ,SI = Principal × Time × Rate 100 ∴ p × 9 + (32000 - p) × 8 = 27600 100 100
Correct Option: A
Let the amount in Post office be Rs. p.
∴ Amount in Bank = Rs. (320000 – p)
We can find the SI with the help of given formula ,SI = Principal × Time × Rate 100 ∴ p × 9 + (32000 - p) × 8 = 27600 100 100
⇒ 9p + 2560000 – 8p= 2760000
⇒ p = 2760000 – 2560000 = Rs. 200000
∴ Amount in bank = Rs. (320000 – 200000) = Rs. 120000
