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Find the simple interest on Rs. 5200 for 2 years at 6% per annum.
Answer & Solution
Correct Answer:
Option
D
$$\eqalign{
& {\text{P = Principal}}\,{\text{Amount}} \cr
& {\text{T = }}\,{\text{Time}}\,{\text{period}} \cr
& {\text{R = Rate}}\,{\text{of}}\,{\text{Interest}} \cr
& I = \frac{{P \times T \times R}}{{100}} \cr
& I = \frac{{5200 \times 2 \times 6}}{{100}} \cr
& I = 624. \cr} $$
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LoginSI=PA*IR*TP (Simple interest = Principal amount * Interest Rate * Time period )
so SI = 5'200 * 6/100 * 2 OR 5'200 * 6 * 2 / 100
= 6* 2 =12
= 5'200 * 12 = 62'400
= 62'400 /100
= 624
Therefore the answer is option D - 624 .
at the beginning of a year at a certain rate of interest. After 54 months,an
additional sum of Rs. 4700 is lent at the rate 2.5 times the former. At the end
of seven years Rs. 5038.50 is earned as interest from both the loans. What was
the original rate of interest?