At a simple rate of interest, an amount of Rs.2100 becomes Rs. 2352 in 2 years. If the interest rate is decreased by 1% then what is the new interest in 2 years?
- Rs. 210
- Rs. 220
- Rs. 242
- Rs. 252
Answer (Detailed Solution Below)
Option 1 : Rs. 210
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10 Questions 10 Marks 7 Mins
Interest = PRT/100
Amount = Principal + Interest
Let the rate be r%
Interest = (2100 × r × 2)/100
2352 - 2100 = (2100 × r × 2)/100
252 = 42r ⇒ r = 6%
New rate of interest = r - 1 = 5%
Interest when r% is 5% = (P × (5) × 2)/100 = (2100 × 5 × 2)/100 = Rs. 210
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Solution:
The difference of interest for 2 years and 3 years on a sum of ₹2100 at 8% per annum is _________.
We have to fill in the blanks to make the statement true.
Interest = P × R × T/100
Given, P = ₹2100
R = 8%
For 2 years, I = 2100 × 8 × 2/100
= 21 × 16
= ₹336
For 3 years, I = 2100 × 8 × 3/100
= 21 × 24
= ₹504
Difference of interest = 504 - 336
= ₹168
Therefore, the required value is ₹168.
✦ Try This: The difference of interest for 4 years and 5 years on a sum of ₹2800 at 5% per annum is _________. Fill in the blanks to make the statement true.
☛ Also Check: NCERT Solutions for Class 7 Maths Chapter 8
NCERT Exemplar Class 7 Maths Chapter 7 Problem 53
The difference of interest for 2 years and 3 years on a sum of ₹2100 at 8% per annum is _________. Fill in the blanks to make the statement true
Summary:
The difference of interest for 2 years and 3 years on a sum of ₹2100 at 8% per annum is ₹168.
☛ Related Questions:
- To convert a fraction into a percent, we _________ it by 100. Fill in the blanks to make the stateme . . . .
- To convert a decimal into a percent, we shift the decimal point two places to the _________. Fill in . . . .
- The _________ of interest on a sum of ₹2000 at the rate of 6% per annum for 1 1/2 years and 2 years . . . .
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Updated On: 27-06-2022
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