A sum of money is invested at 6% simple interest per annum. How long will it take to increase its value by 60% ?
Given:
Rate of interest = 6% per annum
Increase in value = 60%
Formula Used:
SI =
Solution:
Let the principal be P.
Simple interest = 60% of P = 0.6P
0.6P =
0.6 =
60 = 6T
T = = 10
Final Answer
So the correct answer is (d)
English
100 Questions
300 Marks
120 Mins English English10 Questions30 Marks12 Mins English English10 Questions10 Marks8 Mins EnglishA sum of money is invested at 6% simple interest per annum. How long will it take to increase its value by 60% ?
Two banks, A and B, offered loans at 3.5% and 7% per annum, respectively. Akshay borrowed an amount of ₹4,60,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Akshay after 4 years.
Two banks, A and B, offered loans at 3.5% and 7.5% per annum, respectively. Sachin borrowed an amount of ₹2,00,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Sachin after 4 years.
A sum of money was invested at simple interest at a certain rate for 9 years. Had it been invested at an 8% per annum higher rate, it would have fetched ₹7,992 more. Find the principal.
Two banks, A and B, offered loans at 3.5% and 7.5% per annum, respectively. Atul borrowed an amount of ₹2,20,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Atul after 3 years.
Two banks, A and B, offered loans at 3.5% and 7.5% per annum, respectively. Mukund borrowed an amount of ₹2,00,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Mukund after 2 years.
In what duration (in years) will ₹9,000 fetch a simple interest of ₹1,080 at 6% per annum rate of interest?
A music teacher borrowed ₹8,200 from a friend at 6.5% simple interest per annum. After 3 years, he repaid the amount along with a small donation of ₹280 to his friend's charity. Find the total amount he paid.
What sum (in ₹) will earn a simple interest of ₹840 in 3 years at 20% per year 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 ?
Suggested Test Series
Suggested Test Series
A sum of money is invested at 6% simple interest per annum. How long will it take to increase its value by 60% ?
Two banks, A and B, offered loans at 3.5% and 7% per annum, respectively. Akshay borrowed an amount of ₹4,60,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Akshay after 4 years.
Two banks, A and B, offered loans at 3.5% and 7.5% per annum, respectively. Sachin borrowed an amount of ₹2,00,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Sachin after 4 years.
A sum of money was invested at simple interest at a certain rate for 9 years. Had it been invested at an 8% per annum higher rate, it would have fetched ₹7,992 more. Find the principal.
Two banks, A and B, offered loans at 3.5% and 7.5% per annum, respectively. Atul borrowed an amount of ₹2,20,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Atul after 3 years.
Two banks, A and B, offered loans at 3.5% and 7.5% per annum, respectively. Mukund borrowed an amount of ₹2,00,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Mukund after 2 years.
In what duration (in years) will ₹9,000 fetch a simple interest of ₹1,080 at 6% per annum rate of interest?
A music teacher borrowed ₹8,200 from a friend at 6.5% simple interest per annum. After 3 years, he repaid the amount along with a small donation of ₹280 to his friend's charity. Find the total amount he paid.
What sum (in ₹) will earn a simple interest of ₹840 in 3 years at 20% per year 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 ?
