Advertisements
Advertisements
Question
The interest on a certain sum of money is 0.24 times itself in 3 years. Find the rate of interest.
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 amount to be paid at the end of 3 years in given case:
Principal = ₹ 1,200 at 12% p.a.
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?
In how many years will Rs.950 produce Rs.399 as a simple interest at 7%?
Vilasrao borrowed Rs. 20000 from a bank at a rate of 8 p.c.p.a. What is the amount he will return to the bank at the end of the 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
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.
Amount obtained by depositing ₹ 20,000 at 8% per annum for six months is ______.
Interest = `(P xx R xx T)/100`, where T is ______ R% is ______ and P is ______.
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.
