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.
Rohit borrowed Rs. 24,000 at 7.5 percent per year. How much money will he pay at the end of the 4th years to clear his debt?
What sum of money borrowed on 24th May will amount to Rs.10210.20 on 17th October of the same year at 5 percent per annum simple interest.
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.
Basha borrowed ₹ 8,500 from a bank at a particular rate of simple interest. After 3 years, he paid ₹ 11,050 to settle his debt. At what rate of interest he borrowed the money?
Which among the following is the simple interest for the principle of ₹ 1,000 for one year at the rate of 10% interest per annum?
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
Interest on ₹ 12000 for 1 month at the rate of 10% per annum is ______.
Amount received after depositing ₹ 800 for a period of 3 years at the rate of 12% per annum is ₹ 896.
Dhruvika invested money for a period from May 2006 to April 2008 at rate of 12% per annum. If interest received by her is ₹ 1620, find the money invested.
