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2. Simple Interest
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Q21 of 32 Page 46

If the interest of ₹p at the rate of simple interest of r% per annum in t years is I,then

As we know,



Using cross-multiplication we get,


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19

Rahamatchacha takes a loan amount of ₹2,40,000 from a bank for constructing a building at the rate of simple interest of 12% per annum. After 1 yr. Of taking the loan he rents the house at the rate of ₹5200 per month. Let us determine the number of yrs. he would take to repay his loan along with interest from the income of the houserent.

20

Rothinbabu deposits the money for each of his two daughters in such a way that when the ages of each of his daughters will be 18yrs. each one will get ₹1,20,000. The rate of simple interest per annum in the bank is 10% and the present ages of his daughters are 13yrs. and 8 yrs. respectively. Let us determine the money, he had deposited separately inthe bank for each of his daughters.

21

A principal becomes twice of its amount in 20 yrs at a certain rate of simpleinterest. At the same rate of simple interest, that principal becomes thrice of its amount in

21

If a principal becomes twice of its amount in 10 yrs, the rate of simple interest per annum is

Questions · 32
2. Simple Interest
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