Advertisements
Advertisements
Question
A sum of ₹ 46,900 was lent out at simple interest and at the end of 2 years, the total amount was ₹ 53,466. Find the rate of interest per year
Advertisements
Solution
Here principal P = ₹ 46900
Time n = 2 years
Amount A = ₹ 53466
Let r be the rate of interest per year
Interest I = `"Pnr"/100`
A = P + I
53466 = 46900 + `(46900 xx 2 xx "r")/100`
53466 – 46900 = `(46900 xx 2 xx "r")/100`
6566 = 469 × 2 × r
r = `6566/(2 xx 469)%`
= 7%
Rate of interest = 7% per year
APPEARS IN
RELATED QUESTIONS
Find the amount to be paid at the end of 3 years in given case:
Principal = ₹ 7,500 at 5% p.a.
What rate gives ₹ 280 as interest on a sum of ₹ 56,000 in 2 years?
John lent Rs. 2550 to Mohan at 7.5 percent per annum. If Mohan discharges the debt after 8 months by giving an old black and white television and Rs. 1422.50; find the price of the television.
If ₹ 3,750 amount to ₹ 4,620 in 3 years at simple interest. Find:
(i) the rate of interest
(ii) the amount of Rs. 7,500 in `5 1/2` years at the same rate of interest
Ahmed Chacha borrowed rupees 25000 at 12 p.c.p.a. for a year. What amount will he have to return to the bank at the end of the year?
Kisanrao wanted to make a pond in his field. He borrowed rupees 35250 from a bank at an interest rate of 6 p.c.p.a. How much interest will he have to pay to the bank at the end of the year?
Arun lent ₹ 5,000 to Balaji for 2 years and ₹ 3,000 to Charles for 4 years on simple interest at the same rate of interest and received ₹ 2,200 in all from both of them as interest. Find the rate of interest per year
Gayatri’s income is ₹ 1,60,000 per year. She pays 15% of this as house rent and 10% of the remainder on her child’s education. The money left with her is ______.
The interest on ₹ 30000 for 3 years at the rate of 15% per annum is ______.
Bhavya earns ₹ 50,000 per month and spends 80% of it. Due to pay revision, her monthly income increases by 20% but due to price rise, she has to spend 20% more. Find her new savings.
