Let, rate of interest be ‘r’% per annum So, 774 = 2400 × {(1 + r/100)2 – 1} 129/400 = {(1 + r/100)2 – 1} 529/400 = (1 + r/100)2 (23/20)2 = (1 + r/100)2 23/20 = 1 + r/100 3/20 = r/100, r = 15 So, simple interest earned = 2700 × 0.15 × 2 = Rs. 810 Required amount = 810 – 774 = Rs. 36
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A certain sum of money will be doubled in 80 years at the rate of simple interest percent per annum is:
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What sum of money must be given at simple interest for 5 months at 3% per annum in order to earn Rs. 260 interest?
