Rs.10000 is invested at 5% interest rate p.a. Find the interest at the end of one year.
Since, Interest =P×R×T100
where,
P= principal =Rs 10000
R= annual rate of interest =5%
T= number of years =1
so, Interest =10000×5×1100
=Rs. 500
Mr Kumar invested a sum of Rs. 15000 at 6% p.a. simple interest and another amount at 8% p.a. simple interest. The total interest earned at the end of one year on the total amount invested becomes 7% p.a. Find the total amount invested.
Sunil invested Rs 5,000 for 3 years at a certain rate of interest compounded annually, which at the end of first year amounts to Rs 5,600. The rate of interest p.a. is