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
The interest on a certain sum of money is 0.24 times itself in 3 years. Find the rate of interest.
At a rate of 10 p.c.p.a., what would be the interest for one year on rupees 6000?
Anita takes a loan of Rs. 5,000 at 15% per year as the rate of interest. Find the interest she has to pay at the end of one year.
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?
In the first year on an investment of Rs 6,00,000 the loss is 5% and in the second year the gain is 10%, the net result is ______.
Given the principal = Rs 40,000, rate of interest = 8% p.a. compounded annually. Find
- Interest if period is one year.
- Principal for 2nd year.
- Interest for 2nd year.
- Amount if period is 2 years.
Interest on ₹ 12500 at 18% per annum for a period of 2 years and 4 months is ______.
Interest = `(P xx R xx T)/100`, where T is ______ R% is ______ and P is ______.
The simple interest on a sum of ₹ P for T years at R% per annum is given by the formula: Simple Interest = `(T xx P xx R)/100`.
