Home
Class 9
MATHS
On a certain sum of money, lent out at C...

On a certain sum of money, lent out at C.I., interests for first second and third years are रु 1,500, रु 1.725 and रु 2,070 respectively. Find the rate of interest for the
(i) second year
(ii) third year.

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to find the rate of interest for the second and third years based on the given interest amounts for each year. ### Given: - Interest for the first year (I1) = ₹1,500 - Interest for the second year (I2) = ₹1,725 - Interest for the third year (I3) = ₹2,070 ### Step 1: Find the Principal Amount (P) The interest for the second year can be calculated as: \[ I_2 = P \times \frac{R_2}{100} \] Where \( R_2 \) is the rate of interest for the second year. From the first year interest: \[ I_1 = P \times \frac{R_1}{100} \] Assuming the rate for the first year is \( R_1 \), we can express \( P \) as: \[ P = \frac{I_1 \times 100}{R_1} \] ### Step 2: Find the Rate of Interest for the Second Year (R2) The interest for the second year is given as ₹1,725. The principal amount at the end of the first year becomes: \[ P + I_1 = P + 1500 \] Thus, the interest for the second year can also be expressed as: \[ I_2 = (P + I_1) \times \frac{R_2}{100} \] Substituting \( I_1 \): \[ 1725 = (P + 1500) \times \frac{R_2}{100} \] Now we need to find \( R_2 \). We can rearrange this equation to solve for \( R_2 \). ### Step 3: Calculate R2 Using the values we have: \[ R_2 = \frac{1725 \times 100}{P + 1500} \] ### Step 4: Find the Interest for the Third Year (I3) The interest for the third year can be calculated as: \[ I_3 = I_2 + \text{(Interest for the third year)} \] From the given data: \[ I_3 = 2070 - 1725 = 345 \] ### Step 5: Find the Rate of Interest for the Third Year (R3) The interest for the third year can be expressed as: \[ I_3 = (P + I_1 + I_2) \times \frac{R_3}{100} \] Substituting the known values: \[ 345 = (P + 1500 + 1725) \times \frac{R_3}{100} \] ### Step 6: Calculate R3 Rearranging gives: \[ R_3 = \frac{345 \times 100}{P + 1500 + 1725} \] ### Final Calculation Now we can substitute the value of \( P \) from the first step into both equations to find \( R_2 \) and \( R_3 \). ### Summary of Results: - Rate of interest for the second year (R2) = 15% - Rate of interest for the third year (R3) = 20%

To solve the problem, we need to find the rate of interest for the second and third years based on the given interest amounts for each year. ### Given: - Interest for the first year (I1) = ₹1,500 - Interest for the second year (I2) = ₹1,725 - Interest for the third year (I3) = ₹2,070 ### Step 1: Find the Principal Amount (P) ...
Promotional Banner

Topper's Solved these Questions

  • COMPOUND INTEREST

    ICSE|Exercise TOPIC 1 (3 Marks Questions)|14 Videos
  • COMPOUND INTEREST

    ICSE|Exercise TOPIC 1 (4 Marks Questions)|14 Videos
  • COMPOUND INTEREST

    ICSE|Exercise EXERCISE 2 (C)|12 Videos
  • COMPLEMENTARY ANGLES

    ICSE|Exercise EXERCISE |64 Videos
  • COMPOUND INTEREST (USING FORMULA)

    ICSE|Exercise EXERCISE 3(E)|24 Videos

Similar Questions

Explore conceptually related problems

A sum of money is invested at C.I. payable annually. The amounts of interest in two successive years are रु 2,700 and रु 2,880. Find the rate of interest.

A certain sum of money, placed out at compound interest, amounts to रु 6,272 in 2 years and to रु 7,024.64 in 3 years. Find the rate of interest and the sum of money.

A certain sum of money is put at compound interest, compounded half-yearly. If the interest for two successive half-years are रु 650 and रु 760.50, find the rate of interest.

A certain sum of money amounts to 4,500 in first year, to 5,175 in second year and to 6,210 in third year. Find the rate of interest for the. second year

A sum of money lent out at simple interest amounts to ₹2880 in 2 years and to ₹3600 in 5 years. Find the sum of money and the rate of interest.

A sum of money lent out at 9 percent for 5 years produces twice as much interest as Rs. 4,800 in 4""1/2 years at 10 per cent. Find the sum.

A sum is invested at compound interest compounded yearly. If the interest for two successive years be रु 5,700 and रु 7,410, calculate the rate of interest .

A sum of money lent out at simple interest amounts to ₹20,000 in 1 year and to ₹30,000 in 5 years. Find the rate of interest and some of money.

A sum of money lent out at simple interest amounts to ₹7440 in 3 years and to ₹9360 in 7 years. Find the sum of money and the rate of interest.

A sum of money was invested for 3 years, interest being compounded annually. The rates for successive years were 10%, 15% and 18% respectively. If the compound interest for the second year amounted to 4,950, find the sum invested.