Home
Class 7
MATHS
At what rate of simple interest per annu...

At what rate of simple interest per annum, does the interest on Rs. 1200 in 2 years equals the interest on Rs. 600 at 4 years at `(7)/(2)%` per annum ?

A

`(3)/(4)%`

B

`(7)/(2)%`

C

`(4)/(3)%`

D

`(7)/(8)%`

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to find the rate of simple interest per annum (R) such that the interest on Rs. 1200 in 2 years equals the interest on Rs. 600 at 4 years at a rate of \( \frac{7}{2}\% \) per annum. ### Step-by-Step Solution: 1. **Understand the Simple Interest Formula**: The formula for calculating Simple Interest (SI) is: \[ SI = \frac{P \times R \times T}{100} \] where \( P \) is the principal amount, \( R \) is the rate of interest per annum, and \( T \) is the time in years. 2. **Calculate the Interest for Rs. 600 at \( \frac{7}{2}\% \) for 4 years**: - Here, \( P = 600 \), \( R = \frac{7}{2} \), and \( T = 4 \). - Substitute these values into the SI formula: \[ SI_2 = \frac{600 \times \frac{7}{2} \times 4}{100} \] 3. **Calculate \( SI_2 \)**: - First, calculate \( \frac{7}{2} \times 4 = 14 \). - Then, substitute back into the formula: \[ SI_2 = \frac{600 \times 14}{100} = \frac{8400}{100} = 84 \] 4. **Set Up the Equation for Rs. 1200 in 2 years**: - Let \( R \) be the unknown rate of interest. - Here, \( P = 1200 \), \( T = 2 \). - The equation for the interest on Rs. 1200 becomes: \[ SI_1 = \frac{1200 \times R \times 2}{100} \] 5. **Set \( SI_1 \) Equal to \( SI_2 \)**: - Since we want \( SI_1 = SI_2 \): \[ \frac{1200 \times R \times 2}{100} = 84 \] 6. **Solve for \( R \)**: - Simplify the left side: \[ \frac{2400R}{100} = 84 \] - This simplifies to: \[ 24R = 84 \] - Now, divide both sides by 24: \[ R = \frac{84}{24} = 3.5 \] 7. **Convert to Percentage**: - Since \( R \) is already in percentage, we can state: \[ R = 3.5\% \] ### Final Answer: The rate of simple interest per annum is \( 3.5\% \).

To solve the problem, we need to find the rate of simple interest per annum (R) such that the interest on Rs. 1200 in 2 years equals the interest on Rs. 600 at 4 years at a rate of \( \frac{7}{2}\% \) per annum. ### Step-by-Step Solution: 1. **Understand the Simple Interest Formula**: The formula for calculating Simple Interest (SI) is: \[ SI = \frac{P \times R \times T}{100} ...
Promotional Banner

Topper's Solved these Questions

  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise Level 2|20 Videos
  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise Level 3|9 Videos
  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise Easay Type Questions|5 Videos
  • Set theory

    PEARSON IIT JEE FOUNDATION|Exercise ASSESSMENT TEST Test 2|12 Videos
  • STATISTICS

    PEARSON IIT JEE FOUNDATION|Exercise CONCEPT APPLICATION (LEVEL 3)|11 Videos

Similar Questions

Explore conceptually related problems

The interest on Rs. 30000 for 3 years at the rate of 15% per annum is

If the rate of simple interest is 12% per annum, the amount the would fetch interest of Rs. 6000 per annum is :

The difference between compound interest and simple interest on Rs. 2500 for 2 years at 4% per annum is

The difference between simple interest and compound interest on Rs. 1250 for 2 years at 4% per annum is:

If the simple interest on Rs. 800 be more than the interest on Rs. 400 by Rs. 40 in 2 years, then the rate of interest per annum is :

PEARSON IIT JEE FOUNDATION-SIMPLE INTEREST AND COMPOUND INTEREST -Level 1
  1. A person lent a certain sum of money at 12% per annum simple interst. ...

    Text Solution

    |

  2. A certain sum becomes 3 times itself in 4 years at compound interest. ...

    Text Solution

    |

  3. At what rate of simple interest per annum, does the interest on Rs. 12...

    Text Solution

    |

  4. The population of a village increases at a rate of 5% every year. If t...

    Text Solution

    |

  5. Kalyan purchased an old bike for Rs. 12000. If its cost after 2 years ...

    Text Solution

    |

  6. Ram borrowed Rs. 8000 at 3(1)/(2)% per annum compound interest for his...

    Text Solution

    |

  7. Ravi borrowed Rs. 1000 from Sridhar at 3% C.I. for the first year, 5% ...

    Text Solution

    |

  8. Saleem borrowed Rs. 20000 at compound interest and paid Rs. 22050 afte...

    Text Solution

    |

  9. If Rs. 300 is the interest paid on a certain sum at the rate of 5% per...

    Text Solution

    |

  10. At what rate per cent per annum at compound interest will the sum of R...

    Text Solution

    |

  11. A person borrowed a certain sum of money at 16(2)/(3)% per annum compo...

    Text Solution

    |

  12. In how many years will a sum of Rs. 3200 compounded quarterly at the r...

    Text Solution

    |

  13. Ramakrishna borrowed Rs. 160000 from Anirudh at 10% per annum simple i...

    Text Solution

    |

  14. A certain sum triples in 4 years at compound interest, interest being ...

    Text Solution

    |

  15. A sum of Rs. 5120 amounts to Rs. 7290 in 3 years at compound interest....

    Text Solution

    |

  16. The difference between the compound interest and the simple interest o...

    Text Solution

    |

  17. A sum of Rs. 3000 is partly lent at 3% per annum simple interest for (...

    Text Solution

    |

  18. Find the simple interest (approximately) on Rs.700 from 20 December 20...

    Text Solution

    |

  19. A sum of money triples itself in 3 years at compound interest. In how ...

    Text Solution

    |

  20. Raju invested a sum of Rs. 5832 at a rate of interest n% per annum, co...

    Text Solution

    |