Simple interest
- 4 years, ₹ 6000 amounts to ₹ 8,000. In what time at the same rate will ₹ 525 amount to 700 ?
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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 ?
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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
- 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 ?
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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?
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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?
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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
