What sum (in ₹) will earn a simple interest of ₹1,320 in 3 years at 20% per year rate of interest?
2,200
Simple interest is given by \(SI = \frac{P \times R \times T}{100}\), where \(P\) is the principal.
Substitute \(SI = 1320\), \(R = 20\), \(T = 3\): \(1320 = \frac{P \times 20 \times 3}{100}\).
Simplify the right side: \(1320 = \frac{60P}{100} = 0.6P\).
Solve for \(P\): \(P = \frac{1320}{0.6} = 2200\).
Hence, the required sum is ₹2,200.
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Important Questions from Simple Interest
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?
