Q4. In what time will the simple interest on Rs.7560 be Rs.1102.50 at 6 1/4% per annum?
Q6. At what rate per cent per annum will Rs.1625 amount to Rs.2080 in 3 1/2 years?
Answers
ANSWER:
QUESTION 1:
Given:
- Principal = Rs 7560
- SI = Rs 1102.50
- Rate = 6 1/4% = 25/4%
To Find:
- Time period.
Solution:
We know that,
⇒ Simple Interest = (Principal × Rate × Time Period)/100
So,
⇒ 1102.50 = (7560 * 25/4 * Time Period)/100
Transposing 100 to LHS,
⇒ 1102.50 × 100 = 7560 × 25/4 × Time Period
On dividing 7560 by 4,
⇒ 110250 = 1890 × 25 × Time Period
Transposing (1890 × 25) to LHS,
⇒ 110250/(1890 × 25) = Time Period
On dividing 110250 by 25,
⇒ 4410/1890 = Time Period
On dividing the numerator and denominator with 10
⇒ Time Period = 441/189
On dividing the numerator and denominator with 63
⇒ Time Period = 7/3 years = 2 1/3 years = 2years 4months
Hence, the time period is 2 years and 4 months.
QUESTION 2:
Given:
- Principal = Rs 1625
- Amount = Rs 2080
- Time period = 3 1/2 years= 7/2 years
To Find:
- Rate per annum.
Solution:
We know that,
⇒ Amount = Principal + Interest
So,
⇒ 2080 = 1625 + SI
⇒ SI = 2080 - 1625
⇒ SI = Rs 455
Also,
⇒ Simple Interest = (Principal × Rate × Time Period)/100
So,
⇒ 455 = (1625 × Rate × 7/2)/100
Transposing 100 to LHS,
⇒ 455 × 100 = 1625 × Rate × 7/2
Transposing 2 to LHS,
⇒ 45500 × 2 = 1625 × 7 × Rate
Transposing (1625 × 7) to LHS,
⇒ 91000/(1625 × 7) = Rate
On dividing 91000 by 7,
⇒ Rate = 13000/1625
On dividing numerator and denominator by 25,
⇒ Rate = 520/65
On dividing 520 by 65,
⇒ Rate = 8% per annum
Hence, the rate per annum is 8%.
Formulae Used:
- Simple Interest = (Principal × Rate × Time Period)/100
- Amount = Principal + Interest
Answer:
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