Q: A borrows a sum of ₹2,000 from his friend B on 31 December 2011 on the condition that he will return the same after one year with simple interest at 8% per annum. However, A gets into a position of returning the money on 1 July 2012. How much amount he have to return to B? Answer & Explanation Answer: D) ₹2,080 Explanation:
Q: Arvind deposited a sum of money with a bank on 1st January, 2012 at 8% simple interest per annum. He received an amount ₹ 3,144 on 7th August, 2012. Answer & Explanation Answer: B) ₹ 3, 000 Explanation:
Option 3 : \({\rm{6}}\frac{{\rm{2}}}{{\rm{3}}}\;{\rm{\% }}\;{\rm{p}}{\rm{.a}}{\rm{.}}\)  India's Super Teachers for all govt. exams Under One Roof
Concept: \({\rm{S}}.{\rm{I}} = \frac{{{\rm{P}} \times {\rm{R}} \times {\rm{T}}}}{{100}}\) A = P + S.I Calculation: Given: A = 2P T = 15 years ∴ S.I = A – P = 2P – P = P ∵ \({\rm{S}}.{\rm{I}} = \frac{{{\rm{P}} \times {\rm{R}} \times {\rm{T}}}}{{100}}\) ⇒ \(P = \frac{{P \times R \times 15}}{{100}}\) \( \Rightarrow R = \frac{{100}}{{15}} = \frac{{20}}{3} = 6\frac{2}{3}\) \(\therefore R = 6\frac{2}{3}\;\% \;p.a\) India’s #1 Learning Platform Start Complete Exam Preparation
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At what rate of simple interest a certain sum will be doubled in 15 years
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