Question
The simple interest on a sum of money is 7/20 of the sum. If the number of years is numerically half the rate per annum, then find the rate percent per annum.
Solution
Let P = 20 units and Simple Interest = 7 units T = R/2 SI = (P × R × T)/100 => 7 = (20 × R × R)/(100 × 2) => R = 8.4%
More Simple and compound interest Questions
- At what % of simple interest per annum will Rs. 500 amount to Rs. 610 in five years?
- 'Meeru' deposited Rs. 9,600 in a SIP at simple interest of 15% p.a. If she earned Rs. 7,200 as interest, then find the duration (in years) for which the mo...
- A man invested a certain amount of sum at 12.5% per annum simple interest and earned an interest of Rs.2700 after 3 years. If the same amount is invested a...
- Nisha deposited Rs. ‘P’ in a bank offering compound interest of 11% p.a. compounded annually. After 2 years, she invested the amount received from the bank...
- The savings of Arun and Bhaskar are same. The difference between the expenditure of Bhaskar and the savings of both Arun and Bhaskar together is 0. The inc...
- A certain amount triples in 20 years under simple interest at a r% per annum. If Rs.15,000 is invested at (r + 5)% simple interest per annum, then find the...
- A sum of ₹5,000 is invested at 8% simple interest per annum for 3 years. After 3 years, the interest is reinvested at 6% compound interest for 2 years. Fin...
- Mr. X invested Rs. 900 in two schemes, A and B in the ratio of 7:3, respectively. Scheme A and B are offering simple interest at rate of 14% per annum and ...
- A certain amount earns simple interest of Rs. 1420 after 4 years. Had the interest been 5% more, how much more interest would it have earned?
- The simple interest on a sum of Rs X in 5 years is (2/5)of the principal. What is the annual rate of interest?
Relevant for Exams:
