Advertisements
Advertisements
Question
A sum of ₹ 46,900 was lent out at simple interest and at the end of 2 years, the total amount was ₹ 53,466. Find the rate of interest per year
Solution
Here principal P = ₹ 46900
Time n = 2 years
Amount A = ₹ 53466
Let r be the rate of interest per year
Interest I = `"Pnr"/100`
A = P + I
53466 = 46900 + `(46900 xx 2 xx "r")/100`
53466 – 46900 = `(46900 xx 2 xx "r")/100`
6566 = 469 × 2 × r
r = `6566/(2 xx 469)%`
= 7%
Rate of interest = 7% per year
APPEARS IN
RELATED QUESTIONS
Rohit borrowed Rs. 24,000 at 7.5 percent per year. How much money will he pay at the end of the 4th years to clear his debt?
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 sum of ₹ 48,000 was lent out at simple interest and at the end of 2 years and 3 months the total amount was ₹ 55,560. Find the rate of interest per year
Riya bought ₹ 15,000 from a bank to buy a car at 10% simple interest. If she paid ₹ 9,000 as interest while clearing the loan, find the time for which the loan was given
Given the principal = Rs 40,000, rate of interest = 8% p.a. compounded annually. Find principal for 2nd year.
The interest on ₹ 30000 for 3 years at the rate of 15% per annum is ______.
The difference of interest for 2 years and 3 years on a sum of ₹ 2100 at 8% per annum is ______.
₹ 9000 becomes ₹ 18000 at simple interest in 8 years. Find the rate per cent per annum.
The simple interest on a certain sum for 8 years at 12 per cent per annum is ₹ 3120 more than the simple interest on the same sum for 5 years at 14 per cent per annum. Find the sum.
