Maths-

General

Easy

Question

# A person invests Rs6000 at 14% interest for 2 years. Calculate

(i) the interest for the 1^{st} year

(ii) the amount at the end of the first year

(iii) the interest for the second year.

Hint:

### Use the formula of simple interest to find the interest amount.

## The correct answer is: C is the correct answer.

### Complete step by step solution:

(i) We calculate simple interest by the formula,…(i)

where P is Principal amount, T is number of years and R is rate of interest

Let the sum of money P = 6000 Rs

Here, we have T = 1 years, R = 14% and P = 6000 Rs

On substituting the known values in (i), we get

We have SI = 840 Rupees as the interest for 1st year.

(ii) Formula for total amount = A = P + SI,

where A is the total amount, P is the principal amount and SI is simple interest .

We have P = 6000 and SI = 840.

On substitution, we get A = 6000 + 840 = 6840 Rupees.

The amount at the end of first year = 6840 Rupees.

(iii) By the end of first year principal amount becomes, P = 6840 Rupees

We calculate simple interest for the second year by the formula …(i)

where P is Principal amount, T is number of years and R is rate of interest

Let the sum of money P = 6840 Rs

Here, we have T = 1 years, R = 14% and P = 6840 Rs

On substituting the known values in (i), we get

We have SI = 957.6 Rupees as the interest for 2nd year.

Hence option C is the correct answer.

### Related Questions to study

Maths-

### At what percent by simple interest will a sum of money double itself in 5 years 4 months?

### At what percent by simple interest will a sum of money double itself in 5 years 4 months?

Maths-General

Maths-

### A sum of money lent out at simple interest amounts to Rs. 1240 in 4 years and Rs 1360 in 6 years. Find the sum and rate percent?

### A sum of money lent out at simple interest amounts to Rs. 1240 in 4 years and Rs 1360 in 6 years. Find the sum and rate percent?

Maths-General

Maths-

### The simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time if both are numerically equal?

### The simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time if both are numerically equal?

Maths-General

Maths-

### At what rate percent per annum, simple interest will be Rs. 3600 amount to Rs. 4734 in 3 ½ years?

### At what rate percent per annum, simple interest will be Rs. 3600 amount to Rs. 4734 in 3 ½ years?

Maths-General

Maths-

### A group of friends decided to divide the cost of a trip equally among themselves. When two of the friends decided not to go on the trip, those remaining still divided the cost equally, but each friend's share of the cost increased by. How many friends were in the group originally?

### A group of friends decided to divide the cost of a trip equally among themselves. When two of the friends decided not to go on the trip, those remaining still divided the cost equally, but each friend's share of the cost increased by. How many friends were in the group originally?

Maths-General

Maths-

### Jaime is preparing for a bicycle race. His goal is to bicycle an average of at least 280 miles per week for 4 weeks. He bicycled 240 miles the first week, 310 miles the second week, and 320 miles the third week. Which inequality can be used to represent the number of miles, x , Jaime could bicycle on the 4th week to meet his goal?

### Jaime is preparing for a bicycle race. His goal is to bicycle an average of at least 280 miles per week for 4 weeks. He bicycled 240 miles the first week, 310 miles the second week, and 320 miles the third week. Which inequality can be used to represent the number of miles, x , Jaime could bicycle on the 4th week to meet his goal?

Maths-General

Maths-

### A website-hosting service charges businesses a onetime setup fee of plus dollars for each month. If a business owner paid for the first 12 months, including the setup fee, what is the value of ?

### A website-hosting service charges businesses a onetime setup fee of plus dollars for each month. If a business owner paid for the first 12 months, including the setup fee, what is the value of ?

Maths-General

Maths-

What value of satisfies the equation above?

What value of satisfies the equation above?

Maths-General

Maths-

### A laboratory supply company produces graduated cylinders, each with an internal radius of 2 inches and an internal height between 7.75 inches and 8 inches. What is one possible volume, rounded to the nearest cubic inch, of a graduated cylinder produced by this company?

### A laboratory supply company produces graduated cylinders, each with an internal radius of 2 inches and an internal height between 7.75 inches and 8 inches. What is one possible volume, rounded to the nearest cubic inch, of a graduated cylinder produced by this company?

Maths-General

Maths-

### In the xy-plane, the graph of intersects the graph of y =x at the points (0,0) and (a, a). What is the value of a?

### In the xy-plane, the graph of intersects the graph of y =x at the points (0,0) and (a, a). What is the value of a?

Maths-General

Maths-

### Snow fell and then stopped for a time. When the snow began to fall again, it fell at a faster rate than it had initially. Assuming that none of the snow melted during the time indicated, which of the following graphs could model the total accumulation of snow versus time?

### Snow fell and then stopped for a time. When the snow began to fall again, it fell at a faster rate than it had initially. Assuming that none of the snow melted during the time indicated, which of the following graphs could model the total accumulation of snow versus time?

Maths-General

Maths-

Maths-General

Maths-

### The line with the equation is graphed in the xy-plane. What is the x-coordinate of the x-intercept of the line?

### The line with the equation is graphed in the xy-plane. What is the x-coordinate of the x-intercept of the line?

Maths-General

Maths-

The table above shows some values of the functions w and t . For which value of x is ?

The table above shows some values of the functions w and t . For which value of x is ?

Maths-General

Maths-

### Solve each inequality and graph the solution :

Note:

When we have an inequality with the symbols < or > , we use dotted lines to graph them. This is because we do not include the end point of the inequality.

### Solve each inequality and graph the solution :

Maths-General

Note:

When we have an inequality with the symbols < or > , we use dotted lines to graph them. This is because we do not include the end point of the inequality.