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1/11

SIMPLE INTEREST

BY:

KOMAL KOTAK

MBA 3RD sem.


2/11

Principal:

The money borrowed orlent out foracertainperiod

Interest:

Extra money paid forusing others money.

Simple interest:

Ifthe interest ona sum borrowed money foracertainperiod is reckoned uniformly , then

itis called simple interest.

S.I = P*R * T/100


3/11

1]Find the simple interest on Rs 68000 at 16 2/3 % perannum for 9 months

Soln:- p=68000

R=50/3 % p.aT=9 months

S.I = p R T 100

= 6800050/39/12 100

=8500


4/11

2] A sum of Rs 800 amounts to Rs 920 in 3

years at S.I. If the interest is increased by 3% ,

it would amount to how much????

Soln:-S.I= Rs( 920-800)= 120

P=800T=3 yrs

R = (100 120 8003)%

= 5%New rate = (5+3)%=8%

New S.I=800 8 3 100

=192 Rs.


5/11

3]Ali borrowed some money at rate of 6% p.a

for the first 2 yrs ,at the rate of 9% for the next 3

yrs,at the rate of 14 % p.a for beyond 5 yrs. If

he pays a total interest of Rs 11400 at the end of

9 yrs. How much money did he borrow?????

Soln:- let the sum borrowed be x Then,

( x*6*2/100)+ (x*9*3/100) + (x*14*4/100)

=11400

= 95x /100 = 11400

= 12000 Rs.


6/11

4]Prabhat took a certain amount as a loan from bank

at the rate of 8 % p.a S.I and gave the same amount to

ashish as a loan at the rate of 12% p.a If at the end of

12 yrs , he made a profit of Rs 320 in the deal , what

was the original amount????

Soln:- let the original amount be x.

T = 12

R1 = 8 %

R2 = 12 %

Profit =320

p=x

(P*T*R2)/100 - (P*T*R1)/100=320

X=2000/3

=666.67


7/11

5]A sum of Rs 1550 was lent partly at 5% & partly

at 8% p.a .S.I . The total interest received after 3yrs was rs 300. the ratio of the money llent at 5 %

to that lent at 8% is??????

Soln:- let the sum be at 5% be xAt 8% be Rs (1550-x)

(x*5*3)/100 +((1500-x )*8*3 )/100=300

15x +1500*24 -24X +30000

X=800Money at 5% =800

Money at 8% =800/(1550-800)

800/750 = 16/15


8/11

Practice problemAn automobile financer claims to be lending money at S.I ,buthe includes interest every 6 mnths for calculating the

principal.if he is charging an interest of 10% , the effective rate

of interest becomes.

a) 10%

b) 10.25%

c) 10.5%

d) NOT


9/11

Practice problemX person borrows some money at the ratte of 6% p.a for the first

3 yrs , 9% for the next 5 yrs & 13% p.a for the period beyond 8

yrs. If the total interest paid by him at the end of the 11 yrs is8160 ,how much money did he borrow ?????

a) 8000

b) 10000

c) 12000d) 1500


10/11

Practice problemIf 64 amounts to 83.20 in 2 years , what will be rs.

86 amount to in 4 yrs at the same rate of interest per

annum.

a) 114.80

b)124.70

c) 137.60

d)NOT


11/11

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