1 percent for 3 years= 63
1 percent for 1 year = 21
=> 100 percent = 2100
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44
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76
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A sum of Rs 468.75 was lent out at simple interest and at the end of 1 year and 8 months, the total amount of Rs 500 is received. find the rate of interest.
Let the period is 'T' and Sum= 'P'.
As given money become 2.5.
=> 2.5 * P = P + S.I
=> S.I = 1.5 * P -------------- (1)
=> S.I = (P * T * 12.5)/100 -----------(2)
By eq. (1) and (2)
=> 1.5 * P = (P * T * 12.5)/100
=> T=12 years.
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55
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A certain money market account that had a balance of $48,000 during all of last month earned $360 in interest for the month. At what simple annual interest rate did the account earn interest last month?
Formula [R = SI*100/(P*T)]
Given P= $48000, SI=$360, T=1/12
So Rate = [360*100/(48000*(1/12))] = 9%.
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27
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48
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Simple interest on an amount at 4% per annum for 13 months is more than the simple interest on the same sum for 8 months at 6% per annum by rs 40.What is the principle amount ?
Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the number of
years for which it is invested, r is the rate of interest per annum
In this case, Rs. 1250 has become Rs.10,000.
Therefore, the interest earned = (10,000 - 1250) = 8750.
8750 = [(1250*n*12.5)/100]
=> n = 700 / 12.5 = 56 years.
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NA
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34
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Choose the correct option.
Simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time, if both are numerically equal.
Let sum = X. Then S.I. = 16x/25
Let rate = R% and Time = R years.
Therefore, x * R * R/100 = 16x/25 or R^2 = 1600/25, R = 40/5 = 8
So, Rate = 8% and Time = 8 years.
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NA
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Choose the correct option.
A sum at simple interest at 13 1/2% per annum amounts to RS 2502.50 after 4 years. Find the sum.
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