Simple Interest

• Final amount is principal plus interest, A = P +I
• Simple interest is given by I = (P × R × T)/100

Exercise

1. Find the simple interest on Rs 40000 at 7½% per annum for 3 years 3 months.
2. Find the rate of interest when Rs 800 amounts to Rs 930 in 2½ years.
3. Find the time when simple interest on Rs 3.3 lakhs at 6.5 per annum is Rs 75075.
4. Find the principal amount when
   (a) simple interest at 7¼% per annum for 2½ years is Rs 2356.25
   (b) final amount is 11300 at 4% per annum for 3¼ years.
5. Sukhram borrows Rs 6000 to purchase a cow and clears his debt by paying Rs 8000 after 4 months. Find the rate of interest charged per annum.
   [Hint. 4 months = 4/12 years = 1/3 years].
6. A man borrowed Rs 1500 on 1st April and returned Rs 1572 on 13th June. Find the rate of interest charged.
7. A farmer purchased a cow by borrowing at 10% per annum simple interest. If he borrowed money on 22nd April and returned the money on 4th July along with an interest of Rs 120, find the money borrowed.
8. A man invested Rs 2000 at a rate of interest of 1 paisa per rupee per month. What amount will he get after 4 months?
9. The interest on a sum of money at the end of 5 years is 3/5th of the sum. Find the rate of interest.
10. Rs 4050 amounts to Rs 4576.50 in 2 years. At same rate of interest, how much would Rs 1 lac amount to in 3 years?

Answers