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Solved Examples(Set 5) - Simple Interest
| 21. In how many years, $₹150$ will produce the same simple interest at $6\%$ as $₹800$ produce in $2$ years at $4\dfrac{1}{2}\%~?$ | |
| A. $9$ | B. $6$ |
| C. $8$ | D. $4$ |
| Discuss |
answer with explanation
Answer: Option C
Explanation:
Solution 1
Assume, simple interest on $₹150$ at $6\%$ for $n$ years = simple interest on $₹800$ at $4\dfrac{1}{2}\%$ for $2$ years
$\dfrac{150×6×n}{100}=\dfrac{800×\dfrac{9}{2}×2}{100}\\\Rightarrow 150×6×n=800×\dfrac{9}{2}×2\\\Rightarrow n=8$
Solution 2
SI on $₹800$ at $\dfrac{9}{2}\%$ for $2$ years
$\equiv$ SI on $₹800$ at $6\%$ for $\left(2×\dfrac{9}{12}=\dfrac{3}{2}\right)$ years
$\equiv$ SI on $₹150$ at $6\%$ for $\left(\dfrac{3}{2}×\dfrac{800}{150}=8\right)$ years
Solution 3
Let required number of years be $n$
SI $\propto$ PRT
Therefore,
$150×6×n=800×\dfrac{9}{2}×2\\\Rightarrow n=8$
| 22. A sum of $₹2500$ amounts to $₹3875$ in $4$ years at the rate of simple interest. What is the rate of interest? | |
| A. $13.75\%$ | B. $12\%$ |
| C. $6\%$ | D. $12.25\%$ |
| Discuss |
answer with explanation
Answer: Option A
Explanation:
Simple interest $=3875-2500=1375$
$\text{R}=\dfrac{100×1375}{2500×4}=13.75$
| 23. What is the interest due after $40$ days for $₹3200$ at $10\%$ | |
| A. $35.52$ | B. $36.21$ |
| C. $35.07$ | D. $34$ |
| Discuss |
answer with explanation
Answer: Option C
Explanation:
Required simple interest$=\dfrac{3200×10×\dfrac{40}{365} }{100}=35.07$
| 24. What is the rate of interest at which $₹150$ becomes $₹220$ in $10$ years (assume simple interest)? | |
| A. $\dfrac{11}{3}\%$ | B. $\dfrac{14}{3}\%$ |
| C. $12\%$ | D. $14\%$ |
| Discuss |
answer with explanation
Answer: Option B
Explanation:
Simple interest $=220-150=70$
$\text{R}=\dfrac{100×70}{150×10}=\dfrac{14}{3}$
| 25. A person invested $₹2600$ by dividing into $3$ parts. The rate of interest per annum for the first part, second part and third part are $4\%,6\%$ and $8\%$ respectively. At the end of the year, he got the same simple interest in all three parts. What is the money invested at $4\%~?$ | |
| A. $₹1600$ | B. $₹1200$ |
| C. $₹800$ | D. $₹2200$ |
| Discuss |
answer with explanation
Answer: Option B
Explanation:
Let the parts be $x,y$ and $z$
simple interest on $x$ at $4\%$ for $1$ year
= simple interest on $y$ at $6\%$ for $1$ year
= simple interest on z at $8\%$ for $1$ year
$\dfrac{x×4×1}{100}=\dfrac{y×6×1}{100}=\dfrac{z×8×1}{100}\\\Rightarrow 2x=3y=4z$
$x:y=3:2=6:4\\x:z=2:1=6:3$
$x:y:z=6:4:3$
Since the total amount is $2600,$
$x=2600×\dfrac{6}{6+4+3}=1200$
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