Advertisements
Advertisements
Question
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
Solution
Principal lent to Balaji P1 = ₹ 5000
Time n1 = 2 years
Let r be the rate of interest per year
Simple interest got from Balaji = `"Pnr"/100`
⇒ I1 = `(5000 xx 2 xx "r")/100`
Again principal let to Charles P2 = ₹ 3000
Time (n2) = 4 years
Simple interest got from Charles (I2) = `(3000 xx 4 xx "r")/100`
Altogether Arun got ₹ 2200 as interest.
∴ I1 + I2 = 2200
`(5000 xx 2 xx "r")/100 + (3000 xx 4 xx "r")/100` = 2200
100r + 120r = 2200
220r = 2200
r = `2200/220`
r = 10%
Rate of interest per year = 10%
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.
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.
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?
If Manohar pays an interest of Rs. 750 for 2 years on a sum of Rs. 4,500, find the rate of interest.
A principal becomes ₹ 17,000 at the rate of 12% in 3 years. Find the principal.
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
- Interest if period is one year.
- Principal for 2nd year.
- Interest for 2nd year.
- Amount if period is 2 years.
Given the principal = Rs 40,000, rate of interest = 8% p.a. compounded annually. Find Interest for 2nd year.
The ______ of interest on a sum of ₹ 2000 at the rate of 6% per annum for `1 1/2` years and 2 years is ₹ 420.
Chalk contains 10% calcium, 3% carbon and 12% oxygen. Find the amount of carbon and calcium (in grams) in `2 1/2` kg of chalk.
