Simple interest
- It is decided that a loan of ₹10,000 will be paid off at the rate of ₹800 per month in 15 equal instalments. Find out the rate of return on investment.
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Given that , Number of monthly instalments = 15
Monthly instalment = ₹ 800Time (T) = 15 = 1 1 12 4
∴ Total amount paid = ₹ (800 × 15) = ₹ 12,000
Simple Interest = ₹ (12,000 – 10,000) = ₹ 2,000
When
Correct Option: D
Given that , Number of monthly instalments = 15
Monthly instalment = ₹ 800Time (T) = 15 = 1 1 12 4
∴ Total amount paid = ₹ (800 × 15) = ₹ 12,000
Simple Interest = ₹ (12,000 – 10,000) = ₹ 2,000
When∴ Rate of return = 100 × 2,000 × 1 × 4 = 16% 10000 × 5
- A man promises to his wife a birthday present, given her each year a number of rupees equal to the number of years in her age. If her birthday falls on August 8, what sum must be placed at simple interest at 7% on January 1 before she is 63 (non leap year) in order to raise the required sum ?
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Let the sum be ₹ 100.
Number of days from January 1 to August 8 = 31 + 28 + 31 + 30 + 31 + 30 + 31 + 7 = 219 days= 219 year = 3 year 365 5 S.I. on 100 for 3 year at 7% 5 = ₹ 
100 × 3 × 7 
= ₹ 21 100 × 5 5 If required money is ₹ 21 ,sum = ₹ 100 5
Correct Option: C
Let the sum be ₹ 100.
Number of days from January 1 to August 8 = 31 + 28 + 31 + 30 + 31 + 30 + 31 + 7 = 219 days= 219 year = 3 year 365 5 S.I. on 100 for 3 year at 7% 5 = ₹ 100 × 3 × 7 = ₹ 21 100 × 5 5 If required money is ₹ 21 ,sum = ₹ 100 5
If required money is Rs. 63,sum = ₹ = 100 × 5 × 63 = ₹ 1500 21
