ANAND CLASSES-CBSE ICSE Math Science Computer For Class 4 5 6 7 8 9 10 11 12 Tuition Center Jalandhar
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- 3. CALCULATE SIMPLE INTEREST Annual interest rate SIMPLE INTEREST FORMULA Interest paid Principal (Amount of money invested or borrowed) Time (in years) 100 SI = PRT
- 4. CALCULATE SIMPLE INTEREST Simple Interest (S.I) is the method of calculating the interest amount for some principal amount of money. Simple Interest Formula The Formula for simple interest helps you find the interest amount if the principal amount, rate of interest and time periods are given. Simple interest formula is given as: SI = (P × R ×T) / 100 Where SI = simple interest P = principal amount, R = interest rate (in percentage) T = time duration (in years) In order to calculate the total amount paid after given period of time, the following formula is used: Amount (A) = Principal (P) + Interest (SI) Where, Amount (A) is the total money paid back at the end of the time period for which it was borrowed.
- 5. CALCULATE SIMPLE INTEREST Find the simple interest, when : Principal = Rs 2000, Rate of interest = 5% per annum and Time = 5 years Solution: Principal = Rs 2000, Rate of interest (R) = 5 % p.a. , Time (T) = 5 Years Simple Interest (S.I) 100 P R T 2000 5 5 . 500 100 S I Rs
- 6. SIMPLE INTEREST In what time will Rs. 5600 amount to Rs. 6720 at 8% per annum ? Solution: Principal (P) = Rs. 5600 , Amount (A) = Rs. 6720 S.I. = A – P = Rs. 6720 – 5600 = Rs. 1120 Rate (r) = 8% p.a.
- 7. CALCULATE SIMPLE INTEREST Find the simple interest, when : Principal = Rs 4500, Rate of interest = 4% per annum and Time = 6 months Solution: Here Time is in months, convert it into years i.e. T = 6 1 12 2 years Simple Interest (S.I) 100 P R T 1 4500 4 2 . 90 100 S I Rs
- 8. SIMPLE INTEREST In what time will Rs. 8000 amount to Rs. 8360 at 6% per annum simple interest? (a) 8 months (b) 9 months (c) 1 years (d) 1 years Solution: Principal (P) = Rs. 8000, Amount (A) = Rs. 8360 S.I. = A – P = Rs. 8360 – Rs. 8000 = Rs. 360 Rate (R) = 6% p.a.
- 9. SIMPLE INTEREST At what rate per cent per annum simple interest will a sum double itself in 10 years? (a) 8% (b) 10% (c) 12% (d) 15% Solution: Let Sum = P Then amount (A) = 2P S.I. = A – P = 2P – P = P Period (T) = 10 years . . 100 100 ( ) 10% 10 S I P Rate R P T P
- 10. SIMPLE INTEREST At what rate per cent per annum simple interest will a sum triples itself in 20 years? (a) 8% (b) 10% (c) 12% (d) 15% Solution: Let Sum = P Then amount (A) = 3P S.I. = A – P = 3P – P = 2P Period (T) = 20 years . . 100 2 100 ( ) 10% 20 S I P Rate R P T P
- 11. SIMPLE INTEREST At what rate per cent per annum simple interest will a sum quadruples itself in 15 years? (a) 8% (b) 10% (c) 20% (d) 15% Solution: Let Sum = P Then amount (A) = 4P S.I. = A – P = 4P – P = 3P Period (T) = 15 years . . 100 3 100 ( ) 20% 15 S I P Rate R P T P
- 12. SIMPLE INTEREST At simple interest a sum becomes 6 5 of itself in 1 2 2 years. The rate of interest per annum is (a) 6% (b) 1 7 2 % (c) 8% (d) 9% Solution: Let Sum = P Then amount (A) = 6 5 P S.I. = A – P = 6 5 P – P = 1 5 P Period (T) = 20 years 100 . . 100 100 2 5 ( ) 8% 5 5 5 2 P S I Rate R P T P
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- 15. CALCULATE SIMPLE INTEREST Find the simple interest, when : Principal = Rs 1000, Rate of interest = 10% per annum and Time = 73 days Solution: Here Time is in days, convert it into years i.e. T = 73 1 365 5 T years Simple Interest (S.I) 100 P R T 1 1000 10 5 . 20 100 S I Rs
- 16. CALCULATE SIMPLE INTEREST Find the simple interest and the amount paid when : Principal = Rs. 1500, Rate of interest = 12% p.a. , and time = 3 years 3 months. Solution: Principal (P) = Rs. 1500, Rate (r) = 12% p.a.
- 17. CALCULATE SIMPLE INTEREST Find the simple interest and the amount paid when : Principal = Rs. 9600, rate = 1 7 2 % p.a. and time = 5 months Solution: Principal (P) = Rs. 9600
- 18. CALCULATE SIMPLE INTEREST 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 . Solution: Simple Interest (S.I) 100 P R T 25000 20 1 5000 100 Annual Interest Rs His annual interest is the income he gets = Rs 5000
- 19. CALCULATE SIMPLE INTEREST Shanta borrowed Rs. 6000 from the State Bank of India for 3 years 8 months at 12% per annum. What amount will clear off her debt ? Solution: Principal (P) = Rs. 6000, Rate (r) = 12% p.a.
- 20. SIMPLE INTEREST In what time will ₹ 3600 amount to ₹ 4410 at 9% per annum simple interest ? Solution: P = ₹ 3600, A = ₹ 4410, R = 9% S.I. = A – P = ₹ 4410 – ₹ 3600 = ₹ 810