Simple interest
- 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
- A sum of Rs. 7,930 is divided into three parts and given on loan at 5% simple interest to A, B and C for 2, 3 and 4 years respectively. If the amounts of all three are equal after their respective periods of loan, then A received a loanof
-
View Hint View Answer Discuss in Forum
Let the loans taken by A, B and C be Rs. p, Rs. q and Rs. r respectively.
∴ p + q + r = Rs. 7930
We can find the required answer with the help of given formula ,S.I = Principal × Time × Rate 100
According to the question,p + p × 2 × 5 = q + q × 3 × 5 = r + r × 4 × 5 100 100 100 ⇒ 100p + 10p = 100q + 15q = 100r + 20r 100 100 100
⇒ 110p = 115q = 120r
⇒ 22p = 23q = 24r⇒ 22p = 23q = 24r 6072 6072 6072
[LCM of 22, 23 and 24 = 6072]⇒ p = q = r 276 264 253
Correct Option: B
Let the loans taken by A, B and C be Rs. p, Rs. q and Rs. r respectively.
∴ p + q + r = Rs. 7930
We can find the required answer with the help of given formula ,S.I = Principal × Time × Rate 100
According to the question,p + p × 2 × 5 = q + q × 3 × 5 = r + r × 4 × 5 100 100 100 ⇒ 100p + 10p = 100q + 15q = 100r + 20r 100 100 100
⇒ 110p = 115q = 120r
⇒ 22p = 23q = 24r⇒ 22p = 23q = 24r 6072 6072 6072
[LCM of 22, 23 and 24 = 6072]⇒ p = q = r 276 264 253
∴ p : q : r = 276 : 264 : 253
Sum of terms of ratio = 276 + 264 + 253 = 793∴ A’s loan = 276 × 7930 = Rs. 2760 793
- Ram bought a bike for Rs. 60,000. He paid Rs. 10000 cash down and the rest at the end of 2 years at 15% simple interest. How much more did he pay as simple interest ?
-
View Hint View Answer Discuss in Forum
On the basis of given in question ,
Principal = Rs. (60000 – 10000) = Rs. 50000
We can find the required answer with the help of given formula ,SI = P × R × T 100
Correct Option: A
On the basis of given in question ,
Principal = Rs. (60000 – 10000) = Rs. 50000
We can find the required answer with the help of given formula ,SI = P × R × T 100 S.I = 50000 × 15 × 2 100
SI = Rs. 15000
- Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is 8,160, the money borrowed by him (in ) was
-
View Hint View Answer Discuss in Forum
If the sum of money be p, then
From the question ,⇒ p × 6 × 3 + p × 5 × 9 + p × 3 × 13 = 8160 100 100 100
Correct Option: C
If the sum of money be p, then
From the question ,⇒ p × 6 × 3 + p × 5 × 9 + p × 3 × 13 = 8160 100 100 100
⇒ 18p + 45p + 39p = 816000
⇒ 102p = 816000
⇒ p = 816000 ÷ 102 = ₹ 8000
