problems on simple interest eighth grade icse
Answers
1. The interest on a certain sum of money is Rs. 1,480 in 2 years and at 10 per cent per year. Find the sum of money.
2. On what principal will the simple interest be Rs. 7,008 in 6 years 3 months at 5% per year?
3. In how many years will Rs. 950 produce Rs. 399 as simple interest at 7%?
4. The simple interest on a certain sum of money is 38of the sum in 64 years. Find the rate percent charged.
5. What sum of money borrowed on 24th May will amount to Rs.10210.20 on 17th October of the same year at 5 percent per annum simple interest?
6. Find the time in which Rs. 1200 will amount to Rs. 1536 at 3.5% per year.
7. Rohit borrowed Rs. 24,000 at 7.5percent per year. How much money will he pay at the end of 4th years to clear his debt?
This is a tough one so I have given the answer also:
Extra Q. In what time will the interest on a certain sum of money at 6% be 5/8 of itself?
Solution:-
Let P = Rs.8
Interest =Rs⋅858=Rs.5 (Converting the mixed fraction into normal one)
R = 6%
=T=100×1P×R =100×58×6 =50048=12512 Years
=10=512 Years
= 10 Years 5 months
=[∵512 year =512×12 months =5 months ]
Time =10 years 5 months