An amount of ₹6,900 is obtained after 3 years at simple interest at the rate of 5% interest per annum. What is the principal invested?
₹6,000
Amount = Principal plus Simple Interest, where \(SI = \dfrac{P\times R\times T}{100}\).
\(6900 = P\left(1+\dfrac{5\times3}{100}\right) = P\times1.15\).
\(P = \dfrac{6900}{1.15} = 6000\).
Hence, the principal invested is ₹6,000.
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Anil lent a sum of Rs. 5,000 on simple interest for 10 years in such a way that the rate of interest is 6% per annum for the first 2 years, 8% per anmum for the next 2 years and 10% per annum beyond 4 years. How much interest (in Rs.) will he earn at the end of 10 years?
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If in 13 years fixed sum doubles at simple interest, what will be the interest rate per year? (correct to two decimal places)
On simple interest a sum of Rs. 640 becomes Rs. 832 in 2 years. What will Rs. 860 become in 4 years at the same rate of simple interest?
A certain sum amounts to Rs. 81840 in 3 years and to Rs. 92400 in 5 years at x% p.a. under simple interest. If the rate of interest is becomes (x + 2)%, then in how many years will the same sum double itself?
