Get Started with ixamBee
Start learning 50% faster. Sign in now
Monthly instalment = Rs. 2,500 Total loan = Rs. 20,000 ∴ Number of instalment = 20,000/2,500 = 8 Once the payment starts outstanding balances will go on diminishing. Hence, from point of view of interest, principal = 20,000 + 17,500 + 15,000 + 12,500 + 10,000 + 7,500 + 5,000 + 2,500 = Rs 90,000 ∴ Interest on Rs. 90,000 for 1 month at 16% p.a. = (90,000 × 16 × 1)/(100 × 12) = Rs. 1,200 Average rate of interest = (100 × I)/(P × T) T = 8 months = 8/12 year = (1200 × 100 × 12)/(20,000 × 8) = 9%
An amount of Rs. ‘y’ was invested on (R-2)% per annum on simple interest and at the end of 6 years an amount of Rs. 23100 was obtained as an interes...
The simple interest earned on a certain sum after 6 years at 17% p.a. is Rs. 10,200 more than the simple interest earned on the same sum after 3 years ...
Shankar borrowed Rs. 7,200 at simple interest and repaid an amount of Rs. 9,504 after 7 years. If the interest rate p.a charged for first 4 years was 5%...
Rs. (x + 800) is invested at 12% simple interest per annum for 5 years. The interest earned is Rs. (x - 320). If Rs. (x - 400) is...
An initial investment of Rs. 10,000 is made at an annual compound interest rate of 10% for 4 years. After 2 years, an additional Rs. 5,000 is invested. ...
Raj invested equal amounts in two schemes x and y at compound interest. In scheme x, the rate of interest was 8% per annum and in scheme y the rate of i...
What sum of money must be given at simple interest for 5 months at 3% per annum in order to earn Rs. 260 interest?
Rs.13000 was invested for 2 years in scheme A which offers compound interest at 10% per annum. What approximate interest earned on investing the amount ...
A person invests ₹25,000 in two schemes A and B. In scheme A, he gets 15% simple interest per annum, and in scheme B, he gets 18% simple interest per ...
An individual invests Rs. 6,000 at a simple interest rate of 8% per annum. After 2 years, he adds Rs. 1,800 to the investment, and the total amount is k...
