In what time will rupees 7500 amount to rupees 8625 if simple interest is reckoned at 15 2 per annum?

1. Rs. 612
2. Rs. 650
3. Rs. 800
4. Rs. 832

Answer (Detailed Solution Below)

Option 1 : Rs. 612

\(A\; = \;P\;{\left( {\;1\; + \frac{r}{{100}}\;} \right)^t}\)

Where A is the amount at the end of time t,

P is the Principal,

t is time,

r is rate

Given,

Rs. 7500 is compounded for two years at the rate of 4% annual interest.

\(A = 7500{\left( {1 + \frac{4}{{100}}} \right)^2}\)

⇒ A = 7500 × 1.042

⇒ A = Rs. 8112

CI = A – P

∴ CI = Rs. (8112 – 7500) = Rs. 612

Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now!

Simple interest is the interest amount for a particular principal amount of money at some rate of interest

Answer: The time required to pay Rs 7500 amount to Rs 8625, if interest is reckoned at 7 1/2% pa is 2 years

Let's look into the relationship between Principal, Rate of Interest and, Time and Simple Interest

Explanation: 

Given: Principle (P) = Rs 7500

Amount (A) = Rs 8625

Rate (R) = 7 1/2%pa = 15/2 %

Simple Interest (SI) = Amount – Principle

= Rs 8625 - Rs 7500 = Rs 1125

We know that,

SI = (P × R × T)/100

Substituting the values in the above formula we get,

1125 = (7500 × T × 15/2)/ 100

=> 1125 = (7500 × T × 15)/200

=> 225000 = 112500 × T

=>  T = 2

Time = 2 years

Hence, the time required to pay Rs 7500 amount to Rs 8625, if interest is reckoned at 7 1/2%pa is 2 years

In what time will Rs.7500 amount to Rs.8625, if simple interest is reckoned at $7\dfrac{1}{2}$% per annum?

Answer

Verified

Hint – In this question the principal amount is given to us and we need to tell the time in which this amount gets hiked to Rs.7500 if interest is reckoned at $7\dfrac{1}{2}$% per annum. Use the direct formula for Simple interest to calculate the time in which the principal value hikes up.

Complete step-by-step answer:
Given data
Principal amount (P) $ = Rs.7500$
Amount (A) after interest $ = Rs.8625$
Rate (r) of interest $7\dfrac{1}{2}$ % per annum
$ \Rightarrow r = \dfrac{{\left( {7 \times 2} \right) + 1}}{2} = \dfrac{{15}}{2}$ %.
Now as we know that the formula to calculate simple interest (S.I) is
$ \Rightarrow S.I = \dfrac{{P.r.t}}{{100}}$ …………………………. (1)
Where t = time in years.
              r = rate of interest.
              P = principal amount.
And the amount after simple interest is the sum of principal amount and simple interest.
$ \Rightarrow A = P + S.I$
$ \Rightarrow S.I = A - P = 8625 - 7500 = 1125\;Rs.$
Now substitute all the values in equation (1) we have,
$ \Rightarrow 1125 = \dfrac{{7500 \times \dfrac{{15}}{2} \times t}}{{100}}$
Now simplify the above equation we have,
$ \Rightarrow t = \dfrac{{112500 \times 2}}{{7500 \times 15}} = \dfrac{{15 \times 2}}{{15}} = 2$ years.
So, in 2 years Rs.7500 becomes Rs.8625.
So, this is the required answer.

Note – Whenever we face such types of problems the key point is simply to have a good gist of the direct basic formula for Simple Interest, an interest compounded annually is different from a simple interest calculated annually. Use this concept to reach the solution.

hello everyone latest solve the question in what time will rupees 7500 amount to rupees 8625 is simple interest is reckoned at 7 whole 1 by 2% per annum letters again with the formula amount is equals to principal + simple interest amount is given as 8625 principal is given as 7503 can find simple interest by subtracting amount and principal 1625 - 10500 will be equal to simple interest on subtracting the will get

1125 we will be applying the basic formula of simple interest which is equals to principal into rate of interest into time divided by 100 principle is given as 7,500 rate of interest is given as 7 whole 1 by 2% on converting into improper fraction it can be written as to in 2714 plus 116 in Hindi 15 by 2% status put the values in the formula of simple interest given is 1125 is equal to principal amount 7502 rate 15 by 2%

into time which we have to calculate divided by 100 start with cross multiplication 7,500 into 15 by 2 into time latest 100 that site 1125 in 200 now we will bring these numbers 1125 in 200 into 2 / 7500 into 15 will be equal to time on solving we can cancel 2010 75150 is 1125 1515 can be cancelled in his time period is to

thank you

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