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
Find the interest and the amount on:
₹ 5,000 at 8% per year from 23rd December 2011 to 29th July 2012.
If ₹ 3,750 amount to ₹ 4,620 in 3 years at simple interest. Find:
(i) the rate of interest
(ii) the amount of Rs. 7,500 in `5 1/2` years at the same rate of interest
On what date will ₹ 1950 lent on 5th January 2011 amount to ₹ 2125.50 at 5 percent per annum simple interest?
A principal becomes ₹ 17,000 at the rate of 12% in 3 years. Find the principal.
The interest on ₹ 30000 for 3 years at the rate of 15% per annum is ______.
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.
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`.
Amount received after depositing ₹ 800 for a period of 3 years at the rate of 12% per annum is ₹ 896.
₹ 9000 becomes ₹ 18000 at simple interest in 8 years. Find the rate per cent per annum.
