What will be the simple interest earned on an amount of Rs 16 800 in 9 months at the rate of 6.25% per annum?

Answer : Option A

Explanation :

Time = 9 months = `3/4` years.

`:.` S.I. = Rs. `(16800 xx 25/4 xx 3/4 xx 1/100)` = Rs. 787.50

Page 2

Answer : Option A

Explanation :

Let `x, y and z` be the amounts invested in schemes A, B and C respecivelt, Then ,

`((x xx 10 xx 1)/(100)) + ((y xx 12 xx 1)/(100)) + ((z xx 15 xx 1)/(100)) = 3200`

`hArr 10x + 12y + 15z = 320000`...................................................(i)

Now , z = 240% of y = `12/5 y` ......................................................(ii)

And, z = 150% of `x = 3/2 x` `rArr x = 2/3 z = (2/3 xx 12/5)y = 8/5 y` .............................(iii)

From (i), (ii) and (iii), we have .

16y + 12y + 36y = 320000

`hArr 64y = 320000 hArr y = 5000`

`:.` Sum invested in scheme B = Rs 5000.

Simple interest is calculated only on the initial amount (principal) that you invested.

Example: Suppose you give \$100 to a bank which pays you 5% simple interest at the end of every year. After one year you will have \$105, and after two years you will have \$110. This means that you will not earn an interest on your interest. Your interest payments will be $5 per year no matter how many years the initial sum of money stays in a bank account.

This calculator can be used to solve various types of simple interest problems. The calculator will print easy to understand step-by-step explanation.

Answered by Guest on 2021-07-09 06:37:51 | Votes -1 | #

Rs. 787.50

Time = 9 months = 3/4 year.

∴∴

S. I = Rs.(16800 * 25/4 * 3/4 * 1/100 ) = Rs.787.50.

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Calculate simple interest on the principal only, I = Prt. Simple interest does not include the effect of compounding.

Simple Interest Formula

I = Prt

Where:

P = Principal Amount
I = Interest Amount
r = Rate of Interest per year in decimal; r = R/100
R = Rate of Interest per year as a percent; R = r * 100
t = Time Periods involved

Notes: Base formula, written as I = Prt or I = P × r × t where rate r and time t should be in the same time units such as months or years.

Time conversions that are based on day count of 365 days/year have 30.4167 days/month and 91.2501 days/quarter. 360 days/year have 30 days/month and 90 days/quarter.

Simple Interest Formulas and Calculations:

This calculator for simple interest-only finds I, the simple interest where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100. r and t are in the same units of time.