16. Find the simple interest on ? 3,650 from 8th October 2012 to 8th April, 2013 at 5% per annum. Also
find the amount.
Answers
Step-by-step explanation:
One thing which is tricky in this question is to calculate the number of days.
Always remember that the day on which money is deposited is not counted while the day on which money is withdrawn is counted.
So lets calculate the number of days now,
Time = (24+31+18) days = 73/365 years = 1/5 years
P = 2000
R = 25/4%
\begin{aligned}
\text{ S.I. = } = \frac{2000 \times 25 }{4 \times 5 \times 100} = 25
\end{aligned}
Similar Questions :
1. At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years
1%
2%
3%
4%
Answer: Option D
Explanation:
Let sum = x
Time = 10 years.
S.I = 2x /5, [as per question]
Rate =( (100 * 2x) / (x*5*10))%
=> Rate = 4%
2. What will the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years.
1:2
2:1
2:2
2:3
Answer: Option D
Explanation:
Let the principal be P and rate be R
then
\begin{aligned}
\text{ratio = } [\frac{(\frac{P*R*6}{100})}{(\frac{P*R*9}{100})}] \\
= \frac{6PR}{9PR} = 2:3
\end{aligned}
3. At 5% per annum simple interest, Rahul borrowed Rs. 500. What amount will he pay to clear the debt after 4 years
750
700
650
600
Answer: Option D
Explanation:
We need to calculate the total amount to be paid by him after 4 years, So it will be Principal + simple interest.
So,
\begin{aligned}
=> 500 + \frac{500*5*4}{100}
=> Rs. 600
\end{aligned}
4. Sahil took a loan for 6 years at the rate of 5% per annum on Simple Interest, If the total interest paid was Rs. 1230, the principal was
4100
4200
4300
4400
Answer: Option A
Explanation:
\begin{aligned}
\text{S.I.} = \frac{P*R*T}{100} \\
=> P = \frac{S.I. * 100}{R*T}
\end{aligned}
By applying above formula we can easily solve this question, as we are already having the simple interest.
\begin{aligned}
=> P = \frac{1230 * 100}{6*5} \\
=> P = 4100
\end{aligned}
5. If a sum of money doubles itself in 8 years at simple interest, the ratepercent per annum is
12
12.5
13
13.5
Answer: Option B
Explanation:
Let sum = x then Simple Interest = x
Rate = (100 * x) / (x * 8) = 12.5
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