Question 13 Marks
Reema took a loan of $Rs. 8000$ from a money lender, who charged interest at the rate of $18\%$ per annum. After $2$ years, Reema paid him $Rs. 10400$ and wristwatch to clear the debt. What is the price of the watch?
AnswerPrincipal amount $(P) = Rs. 8000$
Time period $(T) = 2$ year
Rate of interest $(R) = 18\%$ p.a.
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{8000\ \times\ 18\ \times\ 2}{100}$
$=\text{Rs. }2880$
Total amount payable by Reema after $2$ years
$= Rs. 8000 + Rs. 2880 $
$= Rs. 10880$
Amount paid $= Rs. 10400$
Value of the watch $= Rs. 10880 - Rs. 10400 = Rs. 480$
View full question & answer→Question 23 Marks
A sum of $Rs. 400$ is lent at the rate of $5\%$ per annum. Find the interest at the end of $2$ years.
AnswerPrincipal amount $(P) = Rs. 400$
Time period $(T) = 2$ years
Rate of interest $(R) = 5\% \ p.a.$
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\text{Rs. }40$
View full question & answer→Question 33 Marks
A person deposits $Rs. 25000$ in a firm who pays an interest at the rate of $20\%$ per annum. Calculate the income he gets from it annually.
AnswerPrincipal amount $(P) = Rs. 25000$
Time period $(T) = 1$ years
Rate of interest $(R) = 20\%\ p.a.$
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{25000\ \times\ 20\ \times\ 1}{100}$
$=\text{Rs. }5000$
View full question & answer→Question 43 Marks
A sum of $Rs. 400$ is lent for $3$ years at the rate of $6\%$ per annum. Find the interest.
AnswerPrincipal amount $(P) = Rs. 400$
Time period $(T) = 3$ years
Rate of interest $(R) = 6\%\ p.a.$
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{400\ \times\ 6\ \times\ 3}{100}$
$=\text{Rs. }72$
View full question & answer→Question 53 Marks
Nalini borrowed $Rs. 550$ from her friend at $8\%$ per annum. She returned the amount after $6$ months. How much
did she pay?
AnswerPrincipal amount $(P) = Rs. 550$
Time period $(T) = 6$ month
Rate of interest $(R) = 8\% p.a.$
$\text{T}=\frac{6}{12}=\frac{1}{2}\ \text{year}$ ($\because$ $1$ year = $12$ month)
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{550\ \times\ 8\ \times\ \frac{1}{2}}{100}$
$=\frac{550\ \times\ 8\ \times\ 1}{100\ \times \ 2}$
$=\text{Rs. }22$
Total amount paid after $6$ months = Principal amount + Interest
$= Rs. 550 + Rs. 22$
$= Rs. 572$
View full question & answer→Question 63 Marks
Mr Sharma deposited $Rs\ 20000$ as a fixed deposit in a bank at $10\%$ per annual. If $30\%$ is deducted as income tax on the interest earned, find his annual income.
AnswerAmount deposit $(P) = Rs 20,000$
Rate of interest $(R) = 10% p.a.$
Time period $(T) = 1$ year
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{20000\ \times\ 10\ \times\ 1}{100}$ $=\text{Rs. }2000$
Amount deducted as income tax $= 30\%$ of $Rs. 2000$ $=\frac{30\ \times\ 2000}{100}$
$=\text{Rs. }600$
Annual interest after tax deduction $= Rs. 2000 - Rs. 600 = Rs. 1400$
View full question & answer→Question 73 Marks
A man borrowed $Rs. 8000$ from a bank at $8\%$ per annum. Find the amount he has to pay after $4\frac{1}{2}\ \text{year}$.
AnswerPrincipal amount $(P) = Rs. 8000$
Time period $(T)$ $=4\frac{1}{2}=\frac{9}{2}\ \text{year}$
Rate of interest $(R) = 8\%\ p.a.$
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{8000\ \times\ 8\ \times\ 9}{100\ \times\ 2}$
$=\text{Rs. }2880$
Total amount paid after $4\frac{1}{2}\ \text{year}$ = Principal amount + Interest
$= Rs. 8000 + Rs. 2880 $
$= Rs. 10880$
View full question & answer→Question 83 Marks
Anita deposits $Rs. 1000$ in a savings bank account. The bank pays interest at the rate of $5\%$ per annum. What amount can Anita get after one year?
AnswerPrincipal amount $(P) = Rs. 1000$
Time period $(T) = 1$ year
Rate of interest $(R) = 5\%\ p.a.$
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{1000\ \times\ 5\ \times\ 1}{100}$
$=\text{Rs. }50$
Total amount paid after $1$ year = Principal amount + Interest
$= Rs. 1000 + Rs. 50$
$= Rs. 1050$
View full question & answer→Question 93 Marks
Find the interest on $Rs. 500$ for a period of $4$ years at the rate of $8\%$ per annum. Also, find the amount to be paid at the end of the period.
AnswerPrincipal amount $(P) = Rs. 500$
Time period $(T) = 4$ years
Rate of interest $(R) = 8\%\ p.a.$
Simple interest $=\frac{\text{P}\ \times\ \text{R}\ \times\ \text{T}}{100}$
$=\frac{500\ \times\ 8\ \times\ 4}{100}$
$=\text{Rs. }160$
Total amount paid = Principal amount + Interest
$= Rs. 500 + 160$
$= Rs. 660$
View full question & answer→Question 103 Marks
Nalini borrowed ₹ 550 from her friend at $8 \%$ per annum. She returned the amount after 6 months. How much did she pay?
View full question & answer→Question 113 Marks
Anita deposits ₹ 1000 in a savings bank account. The bank pays interest at the rate of $5 \%$ per annum. What amount can Anita get after one year?
View full question & answer→Question 123 Marks
Rakesh lent out ₹ 8000 for 5 years at $15 \%$ per annum and borrowed $₹ 6000$ for 3 years at $12 \%$ per annum. How much did he gain or lose?
View full question & answer→Question 133 Marks
A man borrowed $₹ 8000$ from a bank at $8 \%$ per annum. Find the amount he has to pay after $4 \frac{1}{2}$ years.
View full question & answer→Question 143 Marks
A person deposits ₹ 25000 in a firm who pays an interest at the rate of $20 \%$ per annum. Calculate the income he gets from it annually.
View full question & answer→Question 153 Marks
A sum of $₹ 400$ is lent for 3 years at the rate of $6 \%$ per annum. Find the interest.
View full question & answer→Question 163 Marks
A sum of $₹ 400$ is lent at the rate of $5 \%$ per annum. Find the interest at the end of 2 years.
View full question & answer→Question 173 Marks
Find the interest on ₹ 500 for a period of 4 years at the rate of $8 \%$ per annum. Also, find the amount to be paid at the end of the period.
AnswerInterest = ₹ 160, Amount = ₹ 660
View full question & answer→Question 183 Marks
Mr Sharma deposited ₹ 20000 as a fixed deposit in a bank at $10 \%$ per annum. If $30 \%$ is deducted as income tax on the interest earned, find his annual income.
View full question & answer→Question 193 Marks
Reema took a loan of ₹ 8000 from a money lender, who charged interest at the rate of $18 \%$ per annum. After 2 years, Reema paid him ₹ 10400 and wrist watch to clear the debt. What is the price of the watch?
View full question & answer→Question 203 Marks
Shikha deposited ₹ 2000 in a bank which pays $6 \%$ simple interest. She withdrew $₹ 700$ at the end of first year. What will be her balance after 3 years?
View full question & answer→Question 213 Marks
Mr Garg lent ₹ 15000 to his friend. He charged $15 \%$ per annum on $₹ 12500$ and $18 \%$ on the rest. How much interest does he earn in 3 years?
View full question & answer→Question 223 Marks
Romesh borrowed ₹ 2000 at $2 \%$ per annum and $₹ 1000$ at $5 \%$ per annum. He cleared his debt after 2 years by giving $₹ 2800$ and a watch. What is the cost of the watch?
View full question & answer→Question 233 Marks
Rohit borrowed ₹ 60000 from a bank at $9 \%$ per annum for 2 years. He lent this sum of money to Rohan at $10 \%$ per annum for 2 years. How much did Rohit earn from this transaction?
View full question & answer→