Two equal sums of money are lent out for 2 years each, one at 5% per annum simple interest and the other at 7% per annum simple interest. If the difference in simple interest earned on the two sums is ₹40, then what was the principal of each sum (in ₹)?
1,000
Difference in simple interest for the same principal P over 2 years at 5% and 7%: \(P \times 2 \times \dfrac{7-5}{100} = 40\).
\(P \times \dfrac{4}{100} = 40 \Rightarrow P = 1000\).
Hence, the principal of each sum is ₹1,000.
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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?
What will be the simple interest on a sum of Rs. 12000 at the rate of 15 percent per annum for three years ?
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?
