Advertisements
Advertisements
Question
The interest on a certain sum of money is 0.24 times itself in 3 years. Find the rate of interest.
Advertisements
Solution
Let the sum borrowed = Rs.100
Time = 3 years
Let rate of interest = r%
∴ Interest =`(100xx3xx"r")/100` ....`[∵"S.I"=("P"xx"R"xx"T") /100]`
= 3r = (0.24) (100) = 24 .......(Given)
⇒ r =`24/3` = 8
Hence reqd. rate of interest = 8%
APPEARS IN
RELATED QUESTIONS
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.
At a rate of 10 p.c.p.a., what would be the interest for one year on rupees 6000?
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?
Aravind borrowed a sum of ₹ 8,000 from Akash at 7% per annum. Find the interest and amount to be paid at the end of two years
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
Amount obtained by depositing ₹ 20,000 at 8% per annum for six months is ______.
₹ 6400 were lent to Feroz and Rashmi at 15% per annum for `3 1/2` and 5 years respectively. The difference in the interest paid by them is ₹ 150.
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.
₹ 9000 becomes ₹ 18000 at simple interest in 8 years. Find the rate per cent per annum.
