Question
A sum of money amounts to Rs 9,200 in 3 years at 5% simple interest per annum. Find the interest earned .
Solution
Let principal = P SI = (P × R × T)/100 = P × 5 × 3 / 100 = (15P/100) = 3P/20 Amount A = P + SI = P + 3P/20 = 23P/20 Given A = 9,200: 23P/20 = 9,200 ⇒ 23P = 9,200 × 20 = 1,84,000 ⇒ P = 1,84,000 / 23 = 8,000 SI = 9,200 − 8,000 = 1,200 Answer: Interest = Rs 1,200
More Simple and compound interest Questions
- The difference between the simple interest and the compound interest compounded annually at the same rate on a sum of money at the end of two years is Rs 5...
- The value of an investment at simple interest grows to Rs. 11,200 in 2 years and Rs. 15,200 in 6 years. What was the principal amount?
- Rs. 5000 when invested at simple interest of r% p.a. amounts to Rs. 6000 in 24 months. If the same sum had been invested for 1 year at compound interest of...
- Rs. 8000 is invested in scheme ‘A’ for 3 years and Rs. 4000 is invested in scheme ‘B’ for 2 years. Scheme ‘A’ offers simple interest of 6% p.a. If the inte...
- Anjali invested Rs.9000 in a scheme offering compound interest of x% p.a. compounded annually. If at the end of 2 years, interest received by her from the ...
- Atul invested in scheme A and B that provide simple interest at the rate of 12% and 15% for 3 years and 5 years, respectively. Interest received from schem...
- A Motorbike can be purchased on cash payment of Rs. 30000. But the same Motorbike can also be purchased on the cash down payment of Rs 7000 and the rest ca...
- A sum of Rs. 25600 is divided between 'Meera' and 'Nisha' in the ratio 9:7. If 'Nisha' invests her share in a scheme offering compound interest (compounded...
- A certain sum of money invested at a rate of 36% p.a. amounts to Rs. 30417.5 at the end of 15 months if the rate of interest is compounded 5 monthly. Find ...
- By investing Rs. 6,000 for 'a' years at an annual compound interest rate of 15%, the interest gained amounted to Rs. 1,935. Determine the simple interest e...
Relevant for Exams:
