A person takes a loan of 2000 Rs at 10% interest. If he returns 1500 Rs. at the end of first year then in order to clear his debt he would have to pay at the end of 2nd year?
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Solution
Loan amount = 2000 Rs.
Rate = 10%
First installment = 1500
Remaining amount = 2000 – 1500 = 500 Rs.
Total of 2nd installment = 500 + 200 + 50 = 750 Rs.
The SI on a certain sum of money for years at 12% per year is Rs. 400 less than SI on same sum for years at 10% per year. Find the sum :
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Solution
Let principal = P, Rate = 12%, Time = year
SI =
2nd case
Rate = 10%, Time = years
So,
Rs.
A certain sum of money amounts to Rs. 1008 in 2 years and Rs. 1164 in years, then principal sum is :
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Solution
Amount in two years = 1008 Rs.
Amount in years = 1164 Rs.
So, SI for years = 1164 – 1008 = 156 Rs.
SI for 2 years =
So, principal = 1008 – 208 = 800 Rs.
A person borrows Rs. 5000 for 2 years at 4% PA simple interest. He immediately lends it to another person at for 2 years. Find his gain (in Rs.) :
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Solution
Gain = at ( – 4)% rate for two years
Gain = = 250 Rs
Rs.520 at some rate of simple interest becomes Rs.620 in one year. Find the rate of interest.
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Solution
P = 520 RS.
SI for 1 year = 100 Rs.
100 =
⇒ R = = 19.23%
A sum of money lent out at simple interest amounts to Rs. 720 after 2 years and to Rs. 1020 after 5 years. Find the sum :
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Solution
Amount after 2 years = 720 Rs.
Amount after 5 years = 1020 Rs.
SI for 3 years = 1020 – 720 = 300 Rs.
SI for 2 years = Rs.
So principal sum = 720 – 200 = 520 Rs.
If simple interest for 3 years, at 12% p.a. is Rs. 5400 then find the principal amount :
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Solution
SI = 5400 Rs., R = 12%, T = 3 years
P = Rs.
What time it takes for an amount of Rs. 450 to yield Rs. 81 at a simple interest rate of 4.5% ?
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Solution
⇒ T = 4 years
A sum of money at simple interest amounts to Rs. 815 in 3 years and 854 in 4 years, the sum is :
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Solution
SI for 1 year = 854 – 815 = 39 Rs.
SI for 3 years = 39 × 3 = 117 Rs.
Principal = 815 – 117 = 698 Rs.