Simple interest
- A Co-operative Bank gives H.B. loans under the condition that if the loan be cleared with interest in five years, the rate of simple interest per year is 5%, otherwise it will be 7%. Mr. Rahim and Mr. Ram take the same amount of H.B. loan and clear the loan with interest in 5 and 8 years respectively. If Ram pays Rs. 62,000 more, what is the amount of loan taken by each of them ?
-
View Hint View Answer Discuss in Forum
Let amount of loan per head be Rs. p.
As we know that ,SI = Principal × Time × Rate 100 ∴ p × 7 × 8 - p × 5 × 5 = 62000 100 100
Correct Option: A
Let amount of loan per head be Rs. p.
As we know that ,SI = Principal × Time × Rate 100 ∴ p × 7 × 8 - p × 5 × 5 = 62000 100 100 ⇒ 56p - 25p = 62000 100 100
⇒ 21p = 6200000
⇒ p = Rs. 200000
- A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of 1 year. If the rate of interest be 10% per annum, then how much profit or loss will he have?
-
View Hint View Answer Discuss in Forum
Given that , Principal = Rs. 1950, Rate = 10% per annum
We can find the required answer with the help of given formula ,S.I = Principal × Time × Rate 100
Correct Option: A
Given that , Principal = Rs. 1950, Rate = 10% per annum
We can find the required answer with the help of given formula ,S.I = Principal × Time × Rate 100 SI = 1950 × 1 × 10 = Rs. 195 100
- Ramesh borrowed a sum at 5 per annum simple interest from Rahul. He returns the amount after 5years. Rahul returns 2 % of the total amount received. How much did Ramesh borrowed if he received Rs. 5?
-
View Hint View Answer Discuss in Forum
Let the principal be Rs. P.
As we know that ,S.I. = Principal × Time × Rate 100 SI = P × T × R = Rs. P 100 4 Amount = P + P = Rs. 5P 4 4
According to the question,⇒ 5P × 2 = 5 4 100
Correct Option: B
Let the principal be Rs. P.
As we know that ,S.I. = Principal × Time × Rate 100 SI = P × T × R = Rs. P 100 4 Amount = P + P = Rs. 5P 4 4
According to the question,⇒ 5P × 2 = 5 4 100 ⇒ P = 5 40
⇒ P = 40 × 5 = Rs. 200
- A boy aged 12 years is left with Rs. 100,000 which is under a trust. The trustees invest the money at 6% per annum and pay the minor boy a sum of Rs. 2500, for his pocket money at the end of each year. The expenses of trust come out to be Rs. 500 per annum. Find the amount that will be handed over to the minor boy after he attains the age of 18 years.
-
View Hint View Answer Discuss in Forum
As we know that ,
S.I. = Principal × Time × Rate 100 S.I. = 100000 × 6 × 6 = Rs. 36000 100
Total pocket money = 6 × 2500 = Rs. 15000
Correct Option: C
As we know that ,
S.I. = Principal × Time × Rate 100 S.I. = 100000 × 6 × 6 = Rs. 36000 100
Total pocket money = 6 × 2500 = Rs. 15000
Total expenses of trust = 6 × 500 = Rs. 3000
Total expenses = Rs. (15000 + 3000) = Rs. 18000
⇒ Amount to be received by the boy = Rs. (100000 + 36000 – 18000) = Rs. 118000
- A man buys a TV priced at Rs. 16000. He pays Rs. 4000 at once and the rest after 15 months on which he is charged a simple interest at the rate of 12% per year. The total amount he pays for the TV is
-
View Hint View Answer Discuss in Forum
According to question , we have
Remaining amount = Rs. (16000 – 4000) = Rs. 12000S.I = Principal × Time × Rate 100 SI = 12000 × 15 × 12 = Rs. 1800 12 × 100
Correct Option: B
According to question , we have
Remaining amount = Rs. (16000 – 4000) = Rs. 12000S.I = Principal × Time × Rate 100 SI = 12000 × 15 × 12 = Rs. 1800 12 × 100
∴ Total amount paid = Rs. (16000 + 1800) = Rs. 17800
