At what rate percent per annum simple interest will $$Rs.\ 66000$$ amount to $$Rs.\ 72720$$ in $$2$$ years?
Solution
Principal,P = Rs. 66,000
Time,T = 2 years
S.I. = 72,720 - 66,000 = Rs. 6,720
Rate,R = ?
$$\therefore$$ S.I. = $$\dfrac{P\times R\times T}{100}$$
$$\Rightarrow$$ R = $$\dfrac{6720 \times 100}{66,000 \times 2}$$
$$\Rightarrow$$ Rate = $$5.09 $$% per annum
1. Ratio:
(i) The ratio of a number ‘a’ to another number ‘b’ (b ≠ 0) is a fraction ab and is written as a:b.
(ii) In the ratio a:b, the first term is ‘a’ and the second term is ‘b’.
(iii) A ratio is said to be in the simplest form if its two terms have no common factor other than 1.
(iv) The ratio of two numbers is usually expressed in its simplest form.
(v) The ratio of two quantities is an abstract quantity, i.e., it has no units.
2. Proportion:
(i) An equality of two ratios is called a proportion. If a:b=c:d then we write a:b :: c:d.
(ii) The numbers a, b, c, d are in proportion if the ratio of the first two is equal to the ratio of the last two, i.e., a:b=c:d.
(iii) If four numbers a, b, c, d are in proportion, then a and d are known as extreme terms and b and c are called middle terms.
(iv) Four numbers are in proportion if the product of extreme terms is equal to the product of middle terms, i.e., a:b :: c:d if and only if ad=bc.
3. Continued Proportion:
(i) If a:b=b:c, then a, b, c are said to be in continued proportion.
(ii) If a, b, c are in continued proportion, i.e., a:b :: b: c, then b is called the mean proportional between a and c.
4. Value of an Article:
(i) More is the number of articles, more is the value.
∴ Value of a given number of articles = (Value of one article) × (Number of articles).
(ii) Less is the number of articles, less is the value.
∴ Value of one article = Value of a given number of articlesNumber of articles.
(iii) The method of finding the value of one article from the value of the given number of articles first and then finding the value of the required number of articles is called the unitary method.
5. Percentage:
(i) Percent means per hundred or for every hundred.
(ii) By a certain percent, we mean that many hundredths.
(iii) A fraction with its denominator as 100 is called a percent and is equal to that percent as is the numerator.
(iv) A ratio with its second term 100 is also called a percent.
6. Converting to Percentages:
(i) To convert a fraction into a percent we multiply the fraction by 100.
(ii) To convert a ratio into a percent, we write it as a fraction and multiply it by 100.
(iii) To convert a decimal into a percent, we shift the decimal point two places to the right.
(iv) To convert a percent into a fraction, we remove percent sign % and divide by 100.
(v) To convert a percent into a ratio, we remove percent sign % and form a ratio with the remaining number as the first term and 100 as the second term.
(vi) To convert a percent into a decimal, we remove percent sign % and shift the decimal point two places to the left.
7. Increase or Decrease Percentage:
(i) Increase %=Increase in valueOriginal value×100%
(ii) Decrease %=Decrease in valueOriginal value×100%
8. Cost Price and Selling Price:
(i) The money paid by the shopkeeper to buy the goods from a manufacturer or a wholesaler is called the cost price of the shopkeeper. The cost price is abbreviated as C.P.
(ii) The price at which a shopkeeper sells the goods is called the selling price of the shopkeeper. The selling price is abbreviated as S.P.
9. Gain and Loss:
(i) Effective cost = Cost price + Overhead charges.
(ii) If S.P.>C.P., then there is gain given by Gain = S.P.−C.P.
(iii) If S.P.<C.P., then there is loss given by Loss =C.P.−S.P.
(iv) Gain or loss is calculated on the cost price.
(v) Gain%=GainC.P.×100%
(vi) Loss%=Loss C.P.×100%.
10. Simple Interest:
If P= Principal, R= Rate of interest per annum and T= time, then the simple interest is given by S.I.=PRT100.
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At what rate of interest compounded semi-annually will 21,590.00 accumulate to 26,900.00 in 2 years?
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Hello, I'm here. I want to know what the rate of interest component will be early on. Refer to 26,900 A. It is compounded semiannually and is two years long. Four six months is two and two two times. The interest rate will be equal to our bye do now we'll be plugging in equal to well be one place and A. is 26,900. The place by Darwin was raised apart for Okay Dividing both sides. They would leave for with 215) 900 equal to one and R pi two. One place by 200 will be equal to 2690 divided by 2159. The power one x 4 hands is today's topic. Our by 200 will be the same as 2690 Yes, divided by two and 9. They used to have the power one x four. So this is 2690 2690 divided by 2 159 raised to the power. That's okay, minus one. This is a 0.0 fight. The interest rate will be 0.500 and 200. That would be at 11:30. Okay, let's get this out of the way. The per annum rate is 11.30%. The answer should be They. Thank you very much.