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2. Simple Interest
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Q6 of 32 Page 46

Goutam took a loan of some money from a Cooperative bank for opening a poultry farm atthe rate of simple interest of 12% per annum. Every month he has to repay ₹378 as interest. Let us determine the loan amount taken by him.

Time = 1 month = yr


As we know,



Here, P = ?, r = 12, t = yr and I = Rs. 378




= Rs. 37800


Hence, loan amount taken by him Rs. 37800


More from this chapter

All 32 →
4

Utplalbabu took a loan ₹3200 for 2 yrs. From a Cooperative bank for the cultivation of his land at the rate of simple interest of 6% per annum. Let us write by calculating, the amount he has to repay after 2yrs.

5

Sovadebi deposited some amount of money in a bank at the rate of simple interest of 5.25% per annum. After 2yrs. She has got ₹840 as interest. Let us write by calculating, the money she has deposited in the bank.

7

Let us write by calculating, the number of yrs for which an amount becomes twice of its principal having the rate of simple interest of 6% per annum.

8

Mannan Miyan observed, after 6 years of taking a loan of some money, that the interest to be paid had become th of its principal. Let us determine the rate of simple interest in percent per annum.

Questions · 32
2. Simple Interest
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