Simple Interest 1

What is the interest received on a principal of ₹450 for 2 year if the interest received on ₹1 after four year at the same rate of simple interest is ₹0.40?

Interest on ₹1 in 4 years = ₹0.4

∴ Interest on ₹100 in 4 years = ₹40

∴ Interest on ₹100 in 1 year = ₹10

∴ Interest

= = ₹90

Ms. Sandhya deposits an amount of ₹31,400 to obtain a simple interest at the rate of 12 per cent per annum for 8 years. What total amount will Ms. Sandhya get at the end of 8 years?

Simple Interest

=

∴ Required amount

= ₹(31400 + 30144) = ₹61544

Mr. Deepak invested an amount of ₹21,250 for 6 years. At what rate of simple interest will he obtain the total amount of ₹26,350 at the end of 6 years?

Rate =

= = 4%

Arunima invests an amount of ₹10,250@4% p.a. to obtain a total amount of ₹12,710 on simple interest after a certain period. For how many year did she invest the amount to obtain the total sum?

SI = ₹(12710 – 10250)= ₹2460

time =

= years

What would be the simple interest obtained on an amount of ₹6,420 at the rate of 7% p.a. after 4 years?

Simple interest

Ms. Neelam deposits an amount of ₹16420 at simple interest and obtained ₹25451 at the end of 5 years. What was the rate of interest per year?

Interest = (25451 – 16420) = ₹9031

= 11%

What would be the simple interest obtained on an amount of ₹3460 at the rate of 8.5 per cent per annum after 6 years?

= ₹1764.60

Girish invested a certain amount at the rate of 8% p.a. for 6 year to obtain an amount of ₹28,046. How much amount did Girish obtain as simple interest?

Let the principal be = ₹100

∴ Simple interest

= = ₹48

∴ Amount (100 + 48) = ₹148

∴ When the amount = ₹148, the principal = ₹100

∴ When amount = ₹28046, the principal

= × 28046 = ₹18950

= (₹28046 – 18950) = ₹9096

Ms. Maya deposits an amount of ₹17,800 and obtained ₹31,684 at the end of 6 years. What was the rate of simple interest per year?

Rate of Interest

= = 13%

What would be the simple interest obtained on an amount of ₹5,580 at the rate of 6.5% p.a. after 5 years?

Required interest

= ₹

= ₹1813.5

Mr. Anuraag Awasthi deposits an amount of ₹56500 to obtain a simple interest at the rate of 12% p.a. for 3 years. What total amount will Mr. Anuraag Awasthi get at the end of 3 year?

= ₹(56500 + 20340)

= ₹76840

Veena obtained an amount of ₹8, 376 as simple interest on a certain amount at 8% p.a. after 6 years. What is the amount invested by Veena?

Amount invested

= ₹17450

The interest on sum of money at the end of 2½ years is ⅘ of the sum. The rate per cent per year is

The simple interest on ₹200 for 7 months at 5 paise per rupee per month is

Rate = 5 paise per rupee = 5%

= ₹70

What annual installment will discharge a debt of ₹4,200 due in 5 years at 10% simple interest?

Shortcut method:

If borrowed amount be ₹M and it is to be paid in equal installments, then

where Y = no. of installments per annum, a = annual installment

Here, M = 4200, y = 1, r = 10, n = 5, a = ?

⇒

⇒ a = ₹700

A person borrows ₹5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6¼% p.a. for 2 years. Find his gain in the transaction per year.

Gain in 2 years

= ₹(625 – 400) = ₹225.

∴ Gain in 1 year

= ₹112.50

A certain amount earns simple interest of ₹1750 after 7 years Had the interest been 2% more, how much more interest would it have earned?

We need to know the S.I., principal and time to find the rate.

Since the principal is not given, so data is inadequate.

What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?

Let the principal be P and rate of interest be R%.

Required ratio

A lent ₹5000 to B for 2 years and ₹3000 to C for 4 years on simple interest at the same rate of interest and received ₹2200 in all from both of them as interest. The rate of interest per annum is:

Let the rate be R% p.a. Then,

The difference between the simple interest received from two different sources on ₹1500 for 3 years is ₹13.50. The difference between their rates of interest is:

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