Advertisements
Advertisements
Question
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.
Advertisements
Solution
Given, I = ₹ 1620 and R = 12%
Time = From May 2006 to April 2008 = 2 years
∵ `I = (P xx R xx T)/100`
∴ `P = (I xx 100)/(R xx T) = (1620 xx 100)/(12 xx 2)`
⇒ P = ₹ 6750
Hence, the invested money is ₹ 6750.
APPEARS IN
RELATED QUESTIONS
Find the interest and the amount on:
₹ 4,000 in `1 1/3` years at 2 paise per rupee per month.
A sum of money, lent out at simple interest, doubles itself in 8 years. Find :
(i) the rate of interest
(ii) in how many years will the sum become triple (three times) of itself at the same rate percent?
The interest for a principle of ₹ 4,500 which gives an amount of ₹ 5,000 at end of certain period is
Stephen invested ₹ 10,000 in a savings bank account that earned 2% simple interest. Find the interest earned if the amount was kept in the bank for 4 years
The value of a machine depreciates at 10% per year. If the present value is ₹ 1,62,000, what is the worth of the machine after two years?
If a principal is getting doubled after 4 years, then calculate the rate of interest. (Hint: Let P = ₹ 100)
Interest on ₹ 12000 for 1 month at the rate of 10% per annum is ______.
Interest on ₹ 1200 for `1 1/2` years at the rate of 15% per annum is ₹ 180.
A memorial trust donates ₹ 5,00,000 to a school, the interest on which is to be used for awarding 3 scholarships to students obtaining first three positions in the school examination every year. If the donation earns an interest of 12 per cent per annum and the values of the second and third scholarships are ₹ 20,000 and ₹ 15,000 respectively, find out the value of the first scholarship.
₹ 9000 becomes ₹ 18000 at simple interest in 8 years. Find the rate per cent per annum.
