The simple interest on a sum of money for 3 y | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(C) Simple Interest $(S.I.)$ for $3$ years $= ₹ 240$.Therefore,$S.I.$ for $1$ year $= 240 / 3 = ₹ 80$.For the same principal and rate,the $S.I.$ for t

Vedclass · Accepted Answer

$12.5$

Vedclass · Answer

(C) Simple Interest $(S.I.)$ for $3$ years $= ₹ 240$.Therefore,$S.I.$ for $1$ year $= 240 / 3 = ₹ 80$.For the same principal and rate,the $S.I.$ for the first year is equal to the Compound Interest $(C.I.)$ for the first year.Given,$C.I.$ for $2$ years $= ₹ 170$.Therefore,$C.I.$ for the second year $= (C.I. 	ext{ for } 2 	ext{ years}) - (C.I. 	ext{ for } 1 	ext{ year}) = 170 - 80 = ₹ 90$.The difference between the second year's $C.I.$ and the first year's $S.I.$ is the interest earned on the first year's interest.Difference $= 90 - 80 = ₹ 10$.Rate of interest $= (	ext{Difference} / S.I. 	ext{ for } 1 	ext{ year}) 	imes 100$.Rate $= (10 / 80) 	imes 100 = 12.5 \%$.

The simple interest on a sum of money for $3$ years is ₹ $240$ and the compound interest on the same sum,at the same rate for $2$ years is ₹ $170$. The rate of interest is (in $\%$):

Similar Questions

On a certain principal,if the simple interest for two years is ₹ $1400$ and the compound interest for two years is ₹ $1449$,what is the rate of interest (in $\%$) ?

$A$ sum of money,deposited at some rate $p.c.p.a.$ of compound interest,doubles itself in $4$ years. In how many years will it become $16$ times of itself at the same rate?

The simple interest on a certain sum at $4 \%$ per annum for $2$ years is ₹ $80$. The compound interest (in ₹) on the same sum for the same period is

$A$ certain sum of money at compound interest grows up to ₹ $12960$ in $2$ years and up to ₹ $13176$ in $3$ years. Find the rate per cent per annum.

The difference of compound interest (in ₹) on ₹ $800$ for $1$ year at $20 \%$ per annum when compounded half-yearly and quarterly is:

Vedclass Test Series

Exam Paper Generator

Online Exam Module