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Chapter 9 - Simple and Compound Interest Find The Interest and The Amount On

The document discusses simple and compound interest calculations. It provides examples of calculating interest on principal amounts over various time periods at given interest rates. Questions include calculating total interest, principal amounts, and interest rates based on information provided about principal, time, rates, and interest earned. Formulas for simple and compound interest are used to solve for unknown values in each question.

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138 views8 pages

Chapter 9 - Simple and Compound Interest Find The Interest and The Amount On

The document discusses simple and compound interest calculations. It provides examples of calculating interest on principal amounts over various time periods at given interest rates. Questions include calculating total interest, principal amounts, and interest rates based on information provided about principal, time, rates, and interest earned. Formulas for simple and compound interest are used to solve for unknown values in each question.

Uploaded by

ramesh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CHAPTER 9 – SIMPLE AND COMPOUND INTEREST

Question 1.

Find the interest and the amount on:

(i) ₹ 750 in 3 years 4 months at 10% per annum.

Solution:

Given P = ₹ 750

Time (T) =

Rate (R)=10%

Interest

(ii) ₹ 5000 at 8% per year from 23rd December 2011 to 29th July 2012.

Solution:

Principal (P) = ₹ 5000

Rate (R) = 8% p.a

Time (T) = 23 December 2011 to 29 July 2012

Dec. Jan. Feb. March April May June July

8 31 29 31 30 31 30 29

Total 219 days =

Interest =

= 240

Amount = P + I = ₹ 5000 + 240 = ₹ 5240

(iii) ₹ 2,600 in 2 years 3months at 1% per month.

Solution:

Here p = ₹ 2600
Time (T) = 2 Years 3 month = 27 months

Rate (R) = 1 per month

Interest =

= Rs.702

Amount = (2600+702) = Rs.3302

(iv) ₹ 4,000 in years at 2 paise per rupee per month.

Solution:

Here

Rate (R) = 2 paise per rupee per month = 2% per month

∴ Interest (I)

∴ Amount (A) = = Rs. 5280

Question 2

Rohit borrowed Rs. 24,000 at 7.5percent per year. How much money will he pay at the end of 4th years
to clear his debt?

Solution:

Principal (P) = Rs.24000

Rate (R) = 7.5% P.A.

Time (T) = 4 Years

S.I. =
Amount needed to clear the debt at the end of 4th year

= Rs.24000 + Rs.7200 = Rs.3,1200

Question 3.

The interest on a certain sum of money is Rs. 1,480 in 2 years and at 10 per cent per year. Find the sum
of money.

Solution:

Let P = Rs. X

Time (T) = 2 Years

Rate (R) = 0%

∴ Interest

(Given)

Hence the money Rs.7400

Question 4.

On what principal will the simple interest be Rs. 7,008 in 6 years 3 months at 5% per year?

Solution:

Let principal = Rs.P

Time (T) = 6 Years 3 month = 6 Year+

Year year

Rate

Simple interest

We know that

Simple interest
Question 5.

Find the principal which will amount to Rs. 4,000 in 4 years at 6.25% per annum.

Solution:

Let Principal = Rs P, Time (T) = 4 Years

Rate = 6

Simple Interest

∴Amount =

Hence Principal = Rs.3200

Question 6.

(i) At what rate per cent per annum will Rs. 630 produce an interest of Rs. 126 in 4 years?

Solution:

(ii) At what rate per cent per year will a sum double itself in years?

Solution:

Let P = Rs.100

Amount = 2 Rs.100 = Rs.100


Interest = A-P

= Rs.200 - Rs.100 = Rs.100

Question 7.

(i) In how many years will Rs. 950 produce Rs. 399 as simple interest at 7%?

Solution:

P = Rs.950

S.I = Rs.3900

R = 7%

We know that:

T= =

= =2 3 = 6 Years

(ii) Find the time in which Rs. 1200 will amount to Rs. 1536 at 3.5% per year.

Solution:

A = Rs.1536

P = Rs.1200

I=A-P

= Rs.1536 - Rs.1200 = Rs.336

We know that

T= (Formula)

= = [ ]
=

Question 8.

The simple interest on a certain sum of money is of the sum in 64 years. Find the rate percent
charged.

Solution:

Let P = RS.8

S.I = Rs.

= Rs.3

T = 6 years = Years

We know that:

(Formula)

Question 9.

What sum of money borrowed on 24th May will amount to Rs.10210.20 on 17th October of the same
year at 5 percent per annum simple interest?

Solution:

A = Rs.10210.20

R = 5% P.A

T = May + June+ July + August + Sept +Oct

= 7 + 30 + 31 + 31 + 30 + 17

= days = Year

We know that:

P+I=A
(Formula for finding principal)

Money to be borrowed = Rs.10010

Question 10.

In what time will the interest on a certain sum of money at 6% be of itself?

Solution:

Let P = Rs.8

Interest = Rs.8 = Rs.5 (Converting the mixed fraction into normal one)

R = 6%

T=

= = Years

= 10 Years

= 10 Years 5 months

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