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2. Simple Interest
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Q10 of 32 Page 46

If the interest of ₹292 in 1 day be 1 paise, then let us write by calculating, the rate of simple interest in percent per annum.

P = Rs. 292, r = ?, t = yr and I = Rs. .01


As we know,





Hence, the rate of simple interest per annum is 1.25.


More from this chapter

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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.

9

An agricultural Co-operative society gives agricultural loan to its members at the rate of simple interest of 4% per annum. But an interest is to be given at the rate of simple interest of 7.4% per annum for a loan taken from the bank. If a farmer being a member of the Co-operative society takes a loan of ₹5000 from it instead of taking loan from the bank, the let us write, by calculating the money to be saved as interest per annum.

11

Let us write, by calculating the number of yrs. for which the interest of ₹600 at the rate of simple interest of 8% per annum will be ₹168.

12

If I get ₹1200 return as amount (principal along with interest) by depositing ₹800in the bankat the rate of simple interest of 10% per annum, then let us write by calculating, the time for which the money was deposited in the bank.

Questions · 32
2. Simple Interest
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