Simple interest on a sum at 5% per annum for 2 years is Rs. 60, what will be the compound interest on same sum, same rate for same period?
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Solution
SI = 60
Time = 2 years
Rate = 5%
P = 600 Rs.
CI =
⇒ 661.5 – 600
⇒ 61.5 Rs.
A sum of Rs.6600 was taken as a loan. This is to be repaid in two equal annual installments. If rate of interest is 20% (compounded annually). Then value of each installment is.
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Solution
Let x is the installment, then
⇒ (30 + 25)x = 6600 × 36
x = Rs.
The difference between SI and CI on a certain sum at a rate of 10% per annum for 2 years is 20 Rs. find the sum.
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Solution
Difference = 20 Rs.
Time = 2 years
Rate = 10%
For 2 years
Sum =
⇒ Sum =
= 2000 Rs.
A sum was invested for 3 years for which compound interest was 5%, 10% and 15%, respactively, If after 3 years it amounts Rs. 1328.25, then find the sum.
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Solution
Amount = 1328.25
Let sum = x Rs.
So,
x = 1000 Rs.
A sum is invested at compound interest payable annually, the interest for first two successive years was Rs. 400 and Rs. 420, then sum is-
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Solution
Difference = Rs (420-400)
Let, sum is x Rs.
According to question
= 400
⇒ x = Rs 8000
In how many years will a sum of money double itself at 16% per annum at simple interest?
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Solution
Principal = P
Amount = 2P
Interest = 2P – P = P
Rate = 16
P =
T = years
At what percent rate of Simple Interest, a sum of money will double itself in 12 years?
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Solution
Principal = P
Amount = 2P
Interest = 2P – P = P Rs.
Time = 12 years
P = P × R × 12 / 100
The simple interest on Rs. 15 for 6 months at a rate of 3 paise per rupee per month is-
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Solution
Principal = 15 Rs.
Time = 6 Month
Rate = 3 paise per month per rupee
So, Interest = 3 × 6 × 15 paise
⇒ 270 paise
⇒ Rs. 2.7
A person borrowed a sum of money at 9% and after 2 years he paid Rs. 1800 as SI, then what was the principle amount borrowed by him?
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Solution
Let, sum of money was P Rs.
⇒ P = 10,000 Rs.
If the CI on a sum for two years at 10% per year is Rs. 2100, then simple interest on same sum for same rate for 2 years will be-
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Solution
Relation between CI and SI
=> SI = 20 × 2100 / 21 = 2000 Rs