Let the principal be Rs. P and the rate be R% per annum
Since it doubles in 12 years.
So, simple interest is Rs. P
12R = 100
Hence, rate = % per annum
The interest on a certain deposit at 4.5% p.a. is Rs. 202.50 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a. ?
We know that I = PTR/100=> P = 20250/4.5 = 4500Now, new Interest at 5% = 4500x1x5/100 = 225Now the additional amount = 225 - 202.5 = Rs. 22.5
The simple interest on Rs. 25 for 4 months at the rate of 3 paise per rupee per month is :
I = PTR/100I = 25 x 4 x 0.03/100I = 0.03 x 100 = 300 Ps = Rs. 3
A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is ?
Let sum = S. Then, amount = 7S/6
S.I. = 7S/6 - S = S/6; Time = 3 years.
Rate = (100 x S) / (S x 6 x 3) = 5 5/9 = 50/9 %.
If the C.I. on a sum for 2 years at 12 1/2 % per annum is Rs. 510, the S.I. on the same sum at the same rate for the same period of time is ?
Let the sum be Rs. P. Then,
P[ - 1] = 510.
Sum = Rs. 1920
So, S.I. = (1920 x 25 x 2) / (2 x 100) = Rs. 480
A person got Rs.48 more when he invested a certain sum at compound interest instead of simple interest for two years at 8% p.a. Find the sum ?
Where d is difference, r is rate of interest.
=> (48 x 100 x 100) / 8 x 8 = Rs.7500
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