Advertisements
Advertisements
Question
Find the principal which will amount to Rs. 4,000 in 4 years at 6.25% Per annum.
Solution
Given:
- Final amount (A) = ₹4,000,
- Time (T) = 4 years,
- Rate of interest (R) = 6.25% per annum.
Formula for Simple Interest:
`A = P (1+(R.T)/100)`,
where
- A = Final amount,
- P = Principal.
Rearranging to find P:
`P=A/(1+(R.T)/100)`
`P=4000/(1+(6.25·4)/100)`
`P = 4000/1.25`
P = 3200.
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.
At a rate of 10 p.c.p.a., what would be the interest for one year on rupees 6000?
Simple interest on a given amount is always less than or equal to the compound interest on the same amount for the same time period and at the same rate of interest per annum.
Given the principal = Rs 40,000, rate of interest = 8% p.a. compounded annually. Find Interest for 2nd year.
Gayatri’s income is ₹ 1,60,000 per year. She pays 15% of this as house rent and 10% of the remainder on her child’s education. The money left with her is ______.
Rajni and Mohini deposited ₹ 3000 and ₹ 4000 in a company at the rate of 10% per annum for 3 years and `2 1/2` years respectively. The difference of the amounts received by them will be ______.
Amount obtained by depositing ₹ 20,000 at 8% per annum for six months is ______.
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.
Amount received after depositing ₹ 800 for a period of 3 years at the rate of 12% per annum is ₹ 896.
Radhika borrowed ₹ 12000 from her friends. Out of which ₹ 4000 were borrowed at 18% and the remaining at 15% rate of interest per annum. What is the total interest after 3 years?
