LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
30 views
in Mathematics by (59.8k points)
closed by

The compound interest on a certain sum of money for 2 years at the rate of interest 10% per annum is Rs. 6300. Find the simple interest on the same sum at the same rate and for the same time.


1. Rs. 6,000
2. Rs. 6,400
3. Rs. 6,600
4. Rs. 6,800

1 Answer

0 votes
by (117k points)
selected by
 
Best answer
Correct Answer - Option 1 : Rs. 6,000

Given:

The amount of compound interest = Rs. 6300

Rate = 10%

Time = 2 years

Concept used:

C.I. = P {(1 + R/100 )– 1}

S.I. = (P × R × T)/100

S.I. → Simple interest

P →  Principal

T → Time

R → Rate%

A → Amount

Calculations:

C.I. = P{(1 + R/100)– 1}

⇒ 6300 = P{(1 + 10/100)– 1}

⇒ 6300 = P × {(11/10) × (11/10) – 1}

⇒ 6300 = P × (21/100)

⇒ P = Rs. 30,000

S.I. = (P × R × T)/100

⇒ (30000 × 10 × 2)/100 

⇒ Rs. 6,000

∴ The simple interest is Rs. 6,000

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...