S.I for ( T2 - T1) years = Change in Amount = A2 - A1
S.I for 1 year = Rs. (854 - 815) = Rs. 39
S.I for 3 years = Rs. (39 x 3) = Rs. 117
Principal = A - S.I
=> Principal = Rs. (815 - 117) = Rs. 698
A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6.25% p.a for 2 years. Find his gain in the transaction per year.
An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:
Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?