Find the ordinary interest in a loan of Rs.2600 at 10 % simple interest from January 5 to February 10.? Find the present value of Rs.3600 due in 4 months at 6% interest p.a.? At what annual rate percent of interest would Rs.12500 amount Rs.14375 in 2 years & 6 months.? How long will it take for Rs.28000 to amount Rs.30680 at 4 % p.a simple interest.? In what time would the simple interest on Rs.30000 be Rs.60000 at 3-1/3 p.a.?
A simple interest calculation provides a useful estimate of what compound interest will be if what?
Step 1: To find the ordinary interest in a loan of Rs.2600 at 10% simple interest from January 5 to February 10, we need to calculate the number of days between these two dates.
Step 2: Convert the number of days into years by dividing by 365.
Step 3: Calculate the interest amount using the formula: Interest = Principal * Rate * Time.
Step 4: Substitute the values into the formula: Interest = 2600 * 0.10 * (number of years).
Step 5: Calculate the present value of Rs.3600 due in 4 months at 6% interest p.a.
Step 6: Convert the time from months to years by dividing by 12.
Step 7: Calculate the present value using the formula: Present Value = Future Value / (1 + Rate * Time).
Step 8: Substitute the values into the formula: Present Value = 3600 / (1 + 0.06 * (number of years)).
Step 9: To find the annual interest rate percent at which Rs.12500 will amount to Rs.14375 in 2 years and 6 months, we need to use the formula: Rate = [(Future Value / Present Value) ^ (1 / Time) - 1] * 100.
Step 10: Substitute the values into the formula: Rate = [(14375 / 12500) ^ (1 / (number of years + (number of months / 12))) - 1] * 100.
Step 11: To find the time it will take for Rs.28000 to amount to Rs.30680 at 4% p.a simple interest, we need to use the formula : Time = (Future Value - Present Value) / (Principal * Rate).
Step 12: Substitute the values into the formula: Time = (30680 - 28000) / (28000 * 0.04).
Step 13: To find the time in which the simple interest on Rs.30000 will be Rs.60000 at 3-1/3 p.a., we need to use the formula: Time = (Interest / (Principal * Rate)).
Step 14: Substitute the values into the formula: Time = (60000 / (30000 * 3.33/100)).
Note: For step-by-step instructions, numerical values need to be provided.
To find the ordinary interest in a loan of Rs.2600 at 10% simple interest from January 5 to February 10, you will need to calculate the number of days between these two dates.
Step 1: Calculate the number of days between January 5 and February 10.
There are 31 days in January and 10 days in February up to February 10.
So, the total number of days = 31 + 10 = 41 days.
Step 2: Use the formula for simple interest to calculate the ordinary interest.
Simple Interest = (Principal * Rate * Time) / 100
Principal = Rs. 2600
Rate = 10%
Time = Number of days / Number of days in a year
To find the ordinary interest, we need to find the value of Time. Since the interest is calculated annually, we need to convert the number of days into years.
Number of days in a year = 365
Time = 41 / 365
Now, plug in the values into the formula:
Ordinary Interest = (2600 * 10 * (41/365)) / 100
Calculate to get the value of the ordinary interest.
Similarly, to find the present value of Rs.3600 due in 4 months at 6% interest p.a, you can use the present value formula.
Present Value = Future Value / (1 + (Rate * Time))
Future Value = Rs.3600
Rate = 6%
Time = 4 months / 12 (convert months into years)
Plug in the values into the formula and calculate the present value.
To find the annual rate percent of interest at which Rs.12500 would amount to Rs.14375 in 2 years and 6 months, you can use the compound interest formula.
Compound Interest = Principal * (1 + Rate)^Time - Principal
Principal = Rs.12500
Amount = Rs.14375
Time = 2 years and 6 months = 2 + (6/12) (convert months into years)
You need to find the value of Rate using the compound interest formula and then convert it into a percentage.
To find the time it will take for Rs.28000 to amount to Rs.30680 at 4% p.a simple interest, you can use the simple interest formula.
Simple Interest = (Principal * Rate * Time) / 100
Principal = Rs.28000
Amount = Rs.30680
Rate = 4%
Time = ?
Plug in the values into the formula and solve for Time.
To find the time it would take for the simple interest on Rs.30000 to be Rs.60000 at 3-1/3% p.a simple interest, you can use the simple interest formula.
Simple Interest = (Principal * Rate * Time) / 100
Principal = Rs.30000
Interest = Rs.60000
Rate = 3-1/3%
Time = ?
Plug in the values into the formula and solve for Time.