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Mark (√✔) against the correct answer in each of the following:
1. The simple interest on 6250 at 4% per annum for 6 months is
(a) 125
(b) 150
(c) 175
(d) 135
2. A sum amounts to 3605 in 219 days at 5% per annum. The sum is
(a) 3250
(b) 3500
(c) 3400
(d) 3550
3. At simple interest a sum becomes 6/5 of itself in 2 1/2 years. The rate of interest per annum is
(a) 6%
(b) 7 1/2%
(c) 8%
(d) 9%
Principal = Rs6250, SI = 4%p.a., Time = 6months = (6/12) = (1/2) years
SI = (P×R×T)/100
=(6250×4×(1/2))/(100)
=6250×4×(1/2)×(1/100)
=(6250×4×1×1)/(2×100)
=(6250×2)/(100)
=(6250/50)
=Rs.125
Let the required sum be ₹ x
Let the required sum be ₹ x Then, SI = (P × R × T)/ 100
Amount = P + SI
= x + [(x × R × T)/ 100]
= x [1 + ((R × T)/ 100)] x
= Amount/ [1 + ((R × T)/ 100)]
= 3605/ [1 + ((5/100) × (219/365))]
= (3605 × 36500)/ 37595 x = ₹ 3500
Let the required sum be ₹ x
Rate of interest = r %
Time = 2½ years = 5/2 years
Amount = (6/5) × sum
Amount = principal + SI
(6/5) × x = x + [(P × R × T)/100]
= (6/5) x = x + [(x × r × 5)/ (100 × 2)]
= (6/5) = (1 + (r/40))
= r = (40 × (1/5))
= r = 8%