Maths-
General
Easy

Question

In how many months will Rs. 1020 amount to Rs 1037 at 2 ½ % simple interest per annum

hintHint:

Find simple interest from total and principal amount given and then find the number of months.

The correct answer is: 8 months.


    Complete step by step solution:
    We know the formula for total amount = A = P + SI…(i)
    where A is the total amount, P is the principal amount and SI is simple interest.
    Here, we have A = 1037 Rs and P = 1020 Rs
    On substituting the known values in (i), we get SI = 1037 - 1020 = 17
    So, we have SI - 17 Rs
    We calculate simple interest by the formula,S I equals fraction numerator P T R over denominator 100 end fraction…(ii)
    where P is Principal amount, T is number of years and R is rate of interest
    Here, we have R = 2.5% ,SI = 17,P = 1020 and T = ?
    On substituting the known values in (ii), we get 17 = fraction numerator 1020 cross times T cross times 2.5 over denominator 100 end fraction
    not stretchy rightwards double arrow T equals fraction numerator 17 cross times 100 over denominator 1020 cross times 2.5 end fraction

                                             not stretchy rightwards double arrow T equals 1700 over 2550 equals 0.6666 years                   .
    0.6666 years in months = 0.6666 cross times12 = 8 months.
    In 8 months, Rs 1020 will amount to Rs 1037 at 2.5% simple interest per annum.

    Related Questions to study

    General
    Maths-

    A square has vertices (0, 0), (3, 0), and (0, 3). Find the fourth Vertex.

    A square has vertices (0, 0), (3, 0), and (0, 3). Find the fourth Vertex.

    Maths-General
    General
    Maths-

    4 x squared minus 9 equals left parenthesis p x plus t right parenthesis left parenthesis p x minus t right parenthesis
    In the equation above, p and t  are constants. Which of the following could be the value of p  ?

    4 x squared minus 9 equals left parenthesis p x plus t right parenthesis left parenthesis p x minus t right parenthesis
    In the equation above, p and t  are constants. Which of the following could be the value of p  ?

    Maths-General
    General
    Maths-

    What is the sum of the complex numbers 2 +3i and 4 +8i , where i equals square root of negative 1 end root ? ?
    A) 17
    B)  17i
    C)  6 +11i
    D) 8 +24i

    What is the sum of the complex numbers 2 +3i and 4 +8i , where i equals square root of negative 1 end root ? ?
    A) 17
    B)  17i
    C)  6 +11i
    D) 8 +24i

    Maths-General
    parallel
    General
    Maths-

    A square has vertices (0, 0), (1, 0), and (0, 1). Find the fourth vertex.

    A square has vertices (0, 0), (1, 0), and (0, 1). Find the fourth vertex.

    Maths-General
    General
    Maths-

    Find AB if MN is the midsegment of △ ABC.

    Find AB if MN is the midsegment of △ ABC.

    Maths-General
    General
    Maths-

    Solve each inequality and graph the solution:
    -0.5x>-10.

    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:
    -0.5x>-10.

    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.

    parallel
    General
    Maths-

    Find out the simple interest on Rs. 7500 for 2 ½ years at 15  % per annum. Also find the amount

    Find out the simple interest on Rs. 7500 for 2 ½ years at 15  % per annum. Also find the amount

    Maths-General
    General
    Maths-

    Find x if MN is the midsegment of △ ABC.

    Find x if MN is the midsegment of △ ABC.

    Maths-General
    General
    Maths-

    QUESTION 12: A square has vertices (0, 0), (m, 0), and (0, m). Find the fourth
    vertex.

    QUESTION 12: A square has vertices (0, 0), (m, 0), and (0, m). Find the fourth
    vertex.

    Maths-General
    parallel
    General
    Maths-

    Solve each inequality and graph the solution :
    x+9>15.

    Note:
    When we have an inequality with the symbols , 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 :
    x+9>15.

    Maths-General

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

    General
    Maths-

    How is the solution to -4(2x-3)>36 similar to and different from the solution-4(2x-3)=36 .

    Note:
    The number of solutions for an inequality can be infinity. Whereas, a linear equation has only a maximum of one solution.

    How is the solution to -4(2x-3)>36 similar to and different from the solution-4(2x-3)=36 .

    Maths-General

    Note:
    The number of solutions for an inequality can be infinity. Whereas, a linear equation has only a maximum of one solution.

    General
    Maths-

    Find the simple interest and the amount on Rs. 4,000 at the rate of 8% per annum for 146 days?

    Find the simple interest and the amount on Rs. 4,000 at the rate of 8% per annum for 146 days?

    Maths-General
    parallel
    General
    Maths-

    A square park has paths as shown. Use coordinates to determine whether a coffee shop at point M is the same distance from each corner.

    A square park has paths as shown. Use coordinates to determine whether a coffee shop at point M is the same distance from each corner.

    Maths-General
    General
    Maths-

    Place a scalene triangle in a coordinate plane in a way that is convenient for finding side lengths. Assign
    coordinates to each vertex.

    Place a scalene triangle in a coordinate plane in a way that is convenient for finding side lengths. Assign
    coordinates to each vertex.

    Maths-General
    General
    Maths-

    A gardener buys two kinds of fertilizer. Fertilizer A contains 60 straight percent sign filler materials by weight and Fertilizer B contains 40 straight percent sign filler materials by weight. Together, the fertilizers bought by the gardener contain a total of 240 pounds of filler materials. Which equation models this relationship, where x is the number of pounds of Fertilizer A and y  is the number of pounds of Fertilizer B?

    A gardener buys two kinds of fertilizer. Fertilizer A contains 60 straight percent sign filler materials by weight and Fertilizer B contains 40 straight percent sign filler materials by weight. Together, the fertilizers bought by the gardener contain a total of 240 pounds of filler materials. Which equation models this relationship, where x is the number of pounds of Fertilizer A and y  is the number of pounds of Fertilizer B?

    Maths-General
    parallel

    card img

    With Turito Academy.

    card img

    With Turito Foundation.

    card img

    Get an Expert Advice From Turito.

    Turito Academy

    card img

    With Turito Academy.

    Test Prep

    card img

    With Turito Foundation.