In how many years will the simple interest on a sum of money be equal to the principle at rate of $$12\frac{2}{4}\% $$ ÃÂÃÂ per annum?
(A) 7 years
(B) 5 years
(C) 8 years
(D) 6 years
Solution:
$$\eqalign{ & 1 = 1 \times \frac{{50}}{{400}} \times t \cr & t = 8{\text{ years}} \cr} $$
32.
A man buys a TV priced at Rs. 16000. He pays Rs. 4000 at once and the rest after 15 months on which he is charges a simple interest at the rate of 12% per year. The total amount he pays for TV is = ?
(A) Rs. 18200
(B) Rs. 17200
(C) Rs. 17800
(D) Rs. 16800
Solution:
Total price of TV = Rs. 16000 Initial payment = Rs. 4000 Remaining amount = Rs. 12000 Simple interest in 15 months for Rs. 12000 $$\eqalign{ & \Rightarrow {\text{S}}{\text{.I}}{\text{. = }}\frac{{{\text{P}} \times {\text{R}} \times {\text{T}}}}{{100}} \cr & \Rightarrow {\text{S}}{\text{.I}}{\text{. = }}\frac{{12000 \times 12 \times 15}}{{100 \times 12}} \cr & \Rightarrow {\text{S}}{\text{.I}}{\text{. = Rs}}{\text{. 1800}} \cr} $$ ⇒ With S.I. total amount to be paid for principal amount Rs. 12000 = Rs. (12000 + 1800) = Rs. 13800 = Therefore, total amount he pays for the TV is = 4000 + 13800 = Rs. 17800
33.
A digital note-pad is available for Rs. 25,000 cash or Rs. 2,500 down payment followed by 4 equal monthly instalments. If the rate of interest charged is 24% per annum simple interest, what is the monthly instalment (in ., rounded off to the nearest tens)?
A person borrows Rs. 5000 for 2 year at 4% p.a. simple interest. He immediately lends it to another person at $$6\frac{1}{4}$$ % p.a. for 2 years. Find his gain in the transaction per year.
Kruti took a loan at simple interest rate of 6 p.c.p.a. in the first year and it increased by 1.5 p.c.p.a. every year. If she pays Rs. 8190 as interest at the end of 3 years, what was her loan amount ?
(A) Rs. 35400
(B) Rs. 36000
(C) Rs. 36800
(D) Cannot be determined
Solution:
Answer & Solution Answer: Option E Solution: Let the loan amount be Rs. x $$\eqalign{ & {\text{Then,}} \cr & \Rightarrow \frac{{6x}}{{100}} + \frac{{7.5x}}{{100}} + \frac{{9x}}{{100}} = 8190 \cr & \Rightarrow 22.5x = 819000 \cr & \Rightarrow x = 36400 \cr} $$
36.
What sum will amount to Rs. 7000 in 5 years at $${\text{3}}\frac{1}{3}$$ % simple interest ?
A boy aged 12 years is left with Rs. 100000 which is under a trust. The trustees invest the money at 6% per annum and pay the minor boy a sum of Rs. 2500, for his pocket money at the end of each year. The expenses of trust come out to be Rs. 500 per annum. Find the amount that will be handed over to the minor boy after he attains the age of 18 years ?
(A) Rs. 125000
(B) Rs. 118000
(C) Rs. 150000
(D) Rs. 120000
Solution:
$$\eqalign{ & {\text{Sum of the 12 years age }} \cr & {\text{ = Rs}}{\text{. 100000}} \cr & {\text{Sum of the 18 years age }} \cr & = {\text{P}} + \frac{{{\text{P}} \times {\text{R}} \times {\text{T}}}}{{100}} \cr & = {\text{100000}} + \frac{{100000 \times 6 \times 6}}{{100}} \cr & = {\text{100000}} + {\text{36000}} \cr & = {\text{136000}} \cr} $$ Total expenses = 2500 + 500 = 3000 per year Total expenses ( 6 years ) = 3000 × 6 = Rs. 18000 Amount obtained = 136000 - 18000 = 118000
38.
At what rate of simple interest per annum can an amount of Rs. 1553.40 be obtained on the principal amount of Rs. 8630 after 3 years?