Advertisements
Advertisements
Question
In simple interest, a sum of money amounts to ₹ 6,200 in 2 years and ₹ 6,800 in 3 years. Find the principal and rate of interest.
Advertisements
Solution
Let the principal P = ₹ 100
If A = ₹ 6200
⇒ Principal + Interest for 2 years = 6200
A = ₹ 7400
⇒ Principal + Interest for 3 years = 7400
∴ Difference gives the Interest for 1 year
∴ Interest for 1 year = 7400 – 6200
I = 1200
`"Pnr"/100` = 1200
⇒ `("P" xx 1 xx "r")/100` = 1200
If the Principal = 10,000 then
`(10,000 xx 1 xx "r")/100` = 1200
⇒ r = 12%
Rate of interest = 12% per month
APPEARS IN
RELATED QUESTIONS
Find the principal which will amount to Rs. 4,000 in 4 years at 6.25% Per annum.
In how many years will Rs.950 produce Rs.399 as a simple interest at 7%?
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?
Vinita deposited Rs. 15000 in a bank for one year at an interest rate of 7 p.c. p.a. How much interest will she get at the end of the 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?
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.
Amount received on ₹ 3000 for 2 years at the rate of 11% per annum is ______.
The interest on ₹ 350 at 5% per annum for 73 days is ₹ 35.
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.
