Q- A sum of money was borrowed at 6% per annum simple interest. At the end of first year Rupees 6880 was paid off and the rate of interest on the balance was reduced to 5% per annum. If the interest for the second year was 11/20 of the interest for the first year what was the original sum borrowed?
(a) Rupees 10000
(b) Rupees 12000
(c) Rupees 17000
(d) Rupees 15000

Q- A sum of money at simple interest amounts to Rupees 9440 in 3 years. If the rate of interest is increased by 25% by the same sum amounts to Rupees 9800 in the same time. The original rate of interest is
(a) 10% p.a.
(b) 8% p.a.
(c) 7.5% p.a.
(d) 6% p.a.
Q- Ramesh borrowed Rupees 7000 from a bank on simple interest. He returned Rupees 3000 to the bank at the end of 3 years and Rupees 5450 at the end of 5 years and closed the account. Find the rate of interest p.a.
(a) 4%
(b) 5%
(c) 6%
(d) 8%

Open in App

Solution

$A n s 3 . P r i n c i p a l a m o u n t = R s . 7000 A m o u n t o f m o n e y h e r e t u r n e d a f t e r t h r e e y e a r s = R s . 3000 A m o u n t o f m o n e y h e r e t u r n e d a f t e r f i v e y e a r s = R s . 5450 T o t a l a m o u n t o f m o n e y r e t u r n e d b y h i m = R s . (3000 + 5450) = R s . 8450 S i m p l e I n t e r e s t = R s (8450 - 7000) = R s . 1450$
$S i m p l e I n t e r e s t = \frac{P \times r \times t}{100} 1450 = \frac{7000 \times r \times 8}{100} r = \frac{1450 \times 100}{7000 \times 8} r = \frac{145}{56} = 4.14 % = 4 % (a p p r o x)$

Suggest Corrections

Similar questions

Q. A certain sum of money amounts to ₹ 522 rupees in 2 years and ₹558 rupees in 3 years lent at simple interest. Find the sum and rate of interest.

Q. A sum of money was borrowed at

6 %

per annum simple interest. At the end of first year Rs.

6800

was paid of and the rate of interest on the balance was reduced to

5 %

per annum. If the interest for the second year was

\frac{11}{20}

of the interest for the first year what was the original sum borrowed?

Simple interest on a sum of money for 2 years at 4 % is rupees 450. find compound interest on the same sum at the same rate for 2 years.

Verghese borrowed 16,000 rupees from a bank at 8% compound interest. After 2 years, the interest rate was lowered to 6%. What is the total amount that Verghese has to repay at the end of 3 years?

Q. The compound interest for a certain sum at 5% per annum for the first year is 25. The simple interest for the same money at 5% for two years will be rupees

Join BYJU'S Learning Program