A man borrowed ₹1000 for 3 yrs and ₹1500 for 4 yrs at same simple interest rate. Total interest = ₹1350. Find rate.
Given:
Loans: 1000 for 3 yrs, 1500 for 4 yrs
Total SI = 1350
Formula:
SI = (P × R × T) / 100
Solution:
Interest for first loan = 1000 × R × 3 ÷ 100 = 30R
Interest for second = 1500 × R × 4 ÷ 100 = 60R
Total = 90R = 1350 R = 1350 ÷ 90 = 15%
Simple interest of ₹375 is obtained on a sum of money for a period of 3 years at a rate of 2% per annum. Find the sum (in ₹).
Navjot invested a sum of ₹48,800 at 10% per annum for 1 year on compound interest (interest is compounded half-yearly). Find the amount received by him.
The amount doubles itself under Compound interest in 15 years. In how many years will it become 256 times of itself at the same rate of interest?
A sum amounts to ₹ 9075 in years at 15% p.a, interest compounded 8-monthly. What is the simple interest (in ₹) on the same sum for the same period and at the same rate of interest ?
The rates of simple interest in two Nationalized banks are in the ratio 3:2. Rani wants to deposit her total savings in two banks in such a way that she receives equal quarterly interest from both. She should deposit the savings in bank A and B in the ratio
In how much time will a sum of money ₹7500 earn an interest of ₹150 at the rate of 4% per annum simple interest?
A loan of ₹21600 is to be paid back in two equal annual instalments. If the rate of interest is 16% p.a. compounded yearly, then the total interest charged is
Which sum will provide a compound interest of ₹1020 in 2 years at 4% per annum interest compounded annually?
A man borrowed ₹1000 for 3 yrs and ₹1500 for 4 yrs at same simple interest rate. Total interest = ₹1350. Find rate.
