Amount, Principal and Interest

Q.

A man borrowed some money from the bank at $10\%$ per annum simple interest for $5$ years. He paid back $Rs.36000$ to the bank and settled the account. What sum did he borrow from the bank?

Q. At what rate percent per annum will a sum of money double itself in 20 years.

1. 5%
2. 10%
3. 7.5%
4. 15%

Q.

A Sum of Money Invested at $8\%$ Per Annum For Simple Interest Amounts To$Rs12122$ In $2$ Years. What Will It Amounts To In $2$ Year$8$ Months At $9\%$ Rate Of Interest?

Q. Shikha deposited ₹2000 in a bank which pays 6% simple interest. She withdrew ₹ 700 at the end of the first year . What will be her balance after 3 years?

My solution :
P₁ = ₹2000 R=6% T=1yr
SI =( 2000*6*1)÷100
SI = (120)

P₂ = ₹2000-₹700 = ₹1300
SI = (1300*6*2)÷100
SI = 156

Amt = 1300+156+120
Amt = ₹1576

Other solution
P₁ = ₹2000 R=6% T=1yr
SI =( 2000*6*1)÷100
SI = (120)
Amt = 2000 + 120 =₹2120
P_{2 =} 2120-700=1420
SI = (1420*6*2)÷100
SI = 170.4

Amt = 1420+170.4=1590.4

I am not able to understand why do we have to subtract ₹700 from initial amount ₹2000 . Shikha withdrew ₹700 at the end of the first year .

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Q.

A sum when reckoned at 6% per annum simple interest amounts to ₹ 4130 in 3 years find the sum

Q. In what time will ₹ 5600 amount to ₹ 6720 at 8% per annum?

1. 3 years
2. 2$\frac{1}{2}$ years
3. 3$\frac{1}{2}$ years
4. 2 years

Q.

A certain sum amounts to ₹2200 in 2 years to ₹2800 in 4 years at simple interest. Find the sum and the rate per cent per annum.

Q.

Is a fixed deposit an asset?

Q. A sum of money doubles itself in two years. Find the time required for it to become 4 times of itself.

1. 6 years
2. 10 years
3. 4 years
4. 8 years

Q. A person borrows ₹ 5000 for 2 years at 5% p.a. simple interest. He immediately lends it to another person at 10% p.a for 2 years. Find his gain at the end of two years.

1. ₹ 500
2. ₹ 5, 000
3. ₹ 1, 000
4. ₹ 400

Q. Amit borrows some money at the rate of 5% p.a. for the first four years. He borrows the same amount of money at the rate of 10% p.a. for the next two years, and at the rate of 20% per annum for next one year. If he pays a total interest of ₹ 30, 000 at the end of six years, how much money did he borrow each time?

1. ₹ 50, 000
2. ₹ 40, 000
3. ₹ 45, 000
4. ₹ 60, 000

Q. Nivedita borrowed ₹ 50, 000 for an year at the rate of 3.5% per annum. Find the amount accumulated at the end of the year.

1. ₹55000
2. ₹51750
3. ₹52125
4. ₹51520

Q.

At what rate percent shall a sum of ₹400 amount to ₹520 in 5 years ?

Q. Which of the following statements is correct?

1. Amount = Principal - Interest
2. Amount = Principal + Interest
3. Amount = Interest - Principal
4. Amount + Principal = Interest

Q. A sum of money triples itself in four years. Find the time required for it to become 5 times.

1. 8 years
2. 6 years
3. 10 years
4. 12 years

Q. Find the rate at which a sum becomes $\frac{13}{10}$ times of itself in 6 years.

1. 5%
2. 4%
3. 8%
4. 10%

Q. A father divides a sum of ₹ 20, 000 in two funds in the name of his two sons aged 10 years and 30 years in such a way that both receive the same amount of interest at the age of 40 years.
The rate of interest offered in both the funds are same.
Find the amount invested for his younger son.

1. ₹ 15, 000
2. ₹ 5, 000
3. ₹ 10, 000
4. ₹ 25, 000

Q. Anand invested an amount of ₹ 25, 000 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 4% p.a. respectively. If the total amount of simple interest earned in a year be ₹ 5000, what was the amount invested in Scheme A?

1. ₹ 40, 000
2. ₹ 20, 000
3. ₹ 80, 000
4. ₹ 60, 000

Q. Surjeet borrowed ₹ 12, 600 from a money-lender at 15 p.c.p.a. After 3 years, he paid ₹ 7070 and a cow to clear off the debt. What is the cost of the cow?

1. 10, 500 rupees
2. 11, 200 rupees
3. 10, 000 rupees
4. 12, 000 rupees

Q. Sunil deposited ₹ 50, 000 in a bank for 3 years. He got ₹ 9, 000 as interest amount after 3 years. What is the rate of interest(p.c.p.a)?

1. 3%
2. 12%
3. 6%
4. 9%

Q.

Rajini and Mohini deposited $₹3000$ and $₹4000$ in a company at the rate of $10\%$ per annum for $3years$ and $2\frac{1}{2}years$ respectively. The difference of the amounts received by them will be

1. $₹100$

2. $₹1000$

3. $₹900$

4. $₹1100$

Q. Find the rate at which a sum becomes $\frac{6}{5}$ times of itself in 4 years.

1. 5%
2. 4%
3. 10%
4. 8%

Q. Avinash invested an amount of ₹ 10, 000 divided in two different schemes giving a return of 5 % p.a and 15 % p.a. If the interest received in both the schemes is same after a period of 2 years.Find the sum invested at the rate of 5 % p.a.

1. ₹ 7, 500
2. ₹ 5, 500
3. ₹ 4, 000
4. ₹ 6, 000

Q. ₹5, 000 is borrowed at 3.5% rate of interest p.a. borrowed for 3 years. Find the amount to be paid at the end of the third year. [4 marks]

Q.

If the money borrowed is called principal, then $Interest$$=$$.............$$-$ $Principal$.

Q. Ravi borrowed ₹2000 at 2% per annum and ₹1000 at 5% per annum. He cleared his debt after 2 years by giving ₹2800 and a watch.What is a cost price of the watch?

Q. Find the time required for a sum to become $\frac{11}{10}$ times of itself at the rate of 5% p.a.

1. 2 years
2. 6 years
3. 4 years
4. 8 years

Q. A sum of money at simple interest amounts to ₹ 815 in 3 years and to ₹854 in 4 years. The sum is:

1. ₹ 698
2. ₹ 598
3. ₹ 840
4. ₹ 442

Q. Nadim invests a sum of ₹ 8, 000 in a fund giving 12.5 % p.a rate of interest.Find the amount received by him at the end of 3 years.

1. ₹ 10, 000
2. ₹ 12, 000
3. ₹ 11, 000
4. ₹ 15, 000

Q. A sum of money triples itself in four years. Find the rate of Simple Interest.

1. 30%
2. 40%
3. 25%
4. 50%