Advertisements
Advertisements
Question
₹ 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.
Options
True
False
Solution
This statement is False.
Explanation:
Given, Feroz borrowed ₹ 6400 for `3 1/2` yr at 15%
Here, P1 = ₹ 6400, T1 = `3 1/2 = 7/2` yr and R1 = 15%
∴ I1 = `(P_1 xx R_1 xx T_1)/100`
= `(6400 xx 15 xx 7)/(100 xx 2)`
= ₹ 3360
Rashmi borrowed ₹ 6400 for 5 yr at 15%,
Here, P2 = ₹ 6400, R2 = 15% and T2 = 5 yr
∴ I2 = `(P_2 xx R_2 xx T_2)/100`
= `(6400 xx 15 xx 5)/100`
= ₹ 4800
∴ Difference between interest = 4800 – 3360 = ₹ 1440
Hence,the difference in interest, paid by them is ₹ 1440.
APPEARS IN
RELATED QUESTIONS
On what principal will the simple interest be Rs. 7,008 in 6 years 3 months at 5% per year?
Raj borrows Rs.8,000; out of which Rs. 4500 at 5% and the remainder at 6%. Find the total interest paid by him in 4 years.
Mahesh deposited rupees 8650 in a bank at a rate of 6 p.c.p.a. How much money will he get at the end of the year in all?
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.
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
In What time will ₹ 16,500 amount to ₹ 22,935 at 13% per annum?
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
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`.
What sum of money lent out at 16 per cent per annum simple interest would produce ₹ 9600 as interest in 2 years?
