Question

on what date will Rs.1,950 lent on 5th January, 2011 amount to Rs. 2,125.50 at 5 per cent per annum simple interest ?
if the interest on Rs. 2,400 be more than the interest on Rs. 2,000 by Rs.60 in 3 years at the same rate per cent; find the rate.

Answer 1

a) Principal(P) = 1,950 , ROI = 5% , Amount (A) = (P+I) = 2125.50
I = 175.5
   Simple Interest(I) =   P*N*R  =  1950*5*N    = 175.5
                                      100             100
N = 1.8 years = 1 year 9 months 18 days

b) Interest_1 (i1) = 2400*3*R       Interest_2 (i2) = 2000*3*R
                                    100                                        100
i1 = i2 + 60
R = 5%