Correct option is B
Given:
Difference in simple interest = ₹240
Time = 3 years
Formula Used:
Simple Interest =
Solution:
Let the rate of interest be r
Then interest =
Interest when rate is increased by 3%
Difference is ₹240
A sum was invested at a certain rate of simple interest per annum for 2 years. Had it been invested at 3% per annum more rate than the existing rate, the simple interest accrued in the 2 years would have been ₹240 more. The sum invested was:
Given:
Difference in simple interest = ₹240
Time = 3 years
Formula Used:
Simple Interest =
Solution:
Let the rate of interest be r
Then interest =
Interest when rate is increased by 3%
Difference is ₹240
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.
At what rate (in percentage) per year will a sum of money 5 times itself in 16 years on simple interest?
Amrita borrowed ₹ 6500 from a bank at 6% p.a. for 2 years and 6 months. The amount paid by her at the end of this period is
The simple interest on an amount for 6 years at 4% p.a. is ₹ 7,500 less than the simple interest on the same amount for 11 years. Find the amount.
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched ₹ 300 more. Find the sum.
What is the rate percent and time needed, both of them being equal in value, for the simple interest on a certain sum to be 36 over 100 of that sum?
Ravi lent ₹12,000 to his friend at a simple interest rate of 8% per annum. After how many years will the total amount become ₹16,800 ?
What sum (in ₹) will earn a simple interest of ₹840 in 3 years at 20% per year rate of interest?
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 ₹).
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 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.
At what rate (in percentage) per year will a sum of money 5 times itself in 16 years on simple interest?
Amrita borrowed ₹ 6500 from a bank at 6% p.a. for 2 years and 6 months. The amount paid by her at the end of this period is
The simple interest on an amount for 6 years at 4% p.a. is ₹ 7,500 less than the simple interest on the same amount for 11 years. Find the amount.
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched ₹ 300 more. Find the sum.
What is the rate percent and time needed, both of them being equal in value, for the simple interest on a certain sum to be 36 over 100 of that sum?
Ravi lent ₹12,000 to his friend at a simple interest rate of 8% per annum. After how many years will the total amount become ₹16,800 ?
What sum (in ₹) will earn a simple interest of ₹840 in 3 years at 20% per year rate of interest?
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 ₹).
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 ?