To earn ₹15,000 as simple interest in 5 months at 12% per annum, what should be the invested amount?
₹3,00,000
Time \(= 5\) months \(= \frac{5}{12}\) years, and rate \(= 12\%\) per annum.
Using Simple Interest \(= \frac{P \times R \times T}{100}\), we have \(15000 = \frac{P \times 12 \times 5}{100 \times 12}\).
This simplifies to \(15000 = \frac{P \times 5}{100} = 0.05P\).
So \(P = \frac{15000}{0.05} = 3,00,000\).
Hence, the invested amount is ₹3,00,000.
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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?
