₹ 1500 is invested at a rate of 10 % simple i | vedclass

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

Question

(A) The simple interest on ₹ $1500$ invested at a rate of $10 \%$ per annum for $5$ years is:Interest $= \frac{P 	imes R 	imes T}{100} = \frac{1500

Vedclass · Accepted Answer

$6 \frac{1}{9}$ years

Vedclass · Answer

(A) The simple interest on ₹ $1500$ invested at a rate of $10 \%$ per annum for $5$ years is:Interest $= \frac{P 	imes R 	imes T}{100} = \frac{1500 	imes 10 	imes 5}{100} = ₹ 750$After $5$ years,the interest is added to the principal. Therefore,the new principal $= ₹ 1500 + 750 = ₹ 2250$.The target amount is ₹ $2500$. The remaining interest required is $₹ 2500 - 2250 = ₹ 250$.Using the simple interest formula for the remaining time $T$:$250 = \frac{2250 	imes 10 	imes T}{100}$$250 = 225 	imes T$$T = \frac{250}{225} = \frac{10}{9}$ years.Total time $= 5 + \frac{10}{9} = 5 + 1 \frac{1}{9} = 6 \frac{1}{9}$ years.

₹ $1500$ is invested at a rate of $10 \%$ simple interest,and the interest is added to the principal after every $5$ years. In how many years will it amount to ₹ $2500$?

Similar Questions

If a certain sum of money borrowed at $5 \%$ per annum simple interest amounts to ₹ $1020$ in $4$ years,then the sum of money (in ₹) borrowed is:

If the interest on ₹ $12000$ is more than the interest on ₹ $10000$ by ₹ $500$ in $3$ $years$,the rate percent per annum is:

$A$ sum of money invested at $S.I.$ accrued to $Rs. 800$ in $3$ years and to $Rs. 840$ in $4$ years. The rate of interest (in $\%$) per annum is:

$A$ person lent ₹ $10000$ to $B$ for $3$ $years$ and ₹ $6000$ to $C$ for $4$ $years$ on simple interest at the same rate of interest and received ₹ $5400$ in all from both of them as interest. What is the rate of interest (in $\%$)?

The simple interest on a sum for $8$ years is ₹ $47500$. The rate of interest is $10 \%$ per annum for the first $5$ years and $15 \%$ per annum for the next $3$ years. What is the value (in ₹) of the sum?

Vedclass Test Series

Exam Paper Generator

Online Exam Module