Naina lent Rs. 10,000 to Mohini for 4 years and Rs. 15,000 to Mitali for 6 years on simple interest at the same rate of interest and received Rs. 2,600 in all from both as interest. The rate of interest per annum is.

Let the rate of interest r % per annum According to the question, (10000 × 4 × r)/100 + (15000 × 6 × r)/100 = 2,600 ⇒ 400r + 900r = 2,600 ⇒ 1300 r = 2,600 ⇒ r = 2%

- If Rs. 12000 is invested at a simple interest at the rate of 5% p.a., Rs. 4800 is obtained as interest in certain years. In order to earn Rs. 6400 as interest on Rs. 20,000 in the same number of years, what should be the rate of simple interest?
- A man deposited Rs. 22000 at 10% compound interest, compounded annually while Rs. 21500 at 12% simple interest per annum. What will be the difference between the compound interest and the simple interest earned by him after 3 years?
- A sum of Rs.6,000 is to be paid back in two equal annual instalments; each instalment is to be paid at the end of every year. How much is each instalment if the interest is compounded annually at 2% p.a.? (Rounded off up to two decimal places)
- Mr. Mathur invested Rs. 40,000 with Bank A for 2 years and Rs. 10,000 with Bank B for 4 years at simple interest and earned Rs. 6,000 as interest. Find the interest rate p.a. if both the banks lend money at the same rate of interest.
- The simple interest accrued in five years on a principal of Rs. 50,000 is one – tenth of the principal. What is the rate of simple interest p.a.?
- Viraj invested Rs. 3500 at 20% p.a. simple interest for 3 years. After 3 years, he invested the amount received by him at the 20% p.a. compound interest, compounded annually for another 2 years. Find the final amount received by Viraj at the end of 5 years.
- The simple interest received on a certain sum is Rs. 500 less than the sum invested. If the sum was invested at 10% p.a. for 6 years, then find the simple interest received.
- A farmer wants to divide Rs 2,81,800 between his sons , who are 17 and 19 years old respectively, in such a way that the sum divided at the rate of 12% per annum, compounded annually, will give the same amount to each of them when they attain the age of 21 years. How should he divide the sum?
- Vishal has certain sum of money with him. He invested 80% of the sum in scheme ‘X’ offering 15% p.a. simple interest for 8 years and received Rs. 3960 as interest. He then invested the amount received from scheme ‘X’ in scheme ‘Y’ for 2 years at 50% p.a., compound interest compounded annually. Find the amount received by Vishal from scheme B.
- If the ratio of the sum invested and simple interest received after 1 year is 20:13 respectively, then find the rate of interest.

More Simple and compound interest Questions

×