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Both S.I. and C.I. is calculated with a similar rate of 10% per annum on a sum of rupees. If C.I. is calculated yearly for two years, then for what period must S.I. be evaluated such that S.I. = C.I.?

Correct Answer: 2.1 years

Let time period of S.I. be T years.

Then for a principal amount, say P,

ATQ, as, S.I. = C.I. for rate =10%p.a. and

time for C.I. = 2(P x 10 x T)/100 = P{[ (100+10)/100 ]2-1}T/10 = [ 110/100 ]2–1 = [(11/10)2–1] = (121-100)/100T/10 = 21/100T = 21/10 = 2.1 years

Arun borrowed a sum of money from Jayant at the rate of 8% per annum simple interest for the first four years, 10% per annum for the next 6 years and 12% per annum for the period beyond 10 years. If he pays a total of Rs. 12160 as interest only at the end of 15 years, how much money did he borrow?

Rohan borrowed a certain sum of money at simple interest. Rate of interest was 3% per annum for first 3 years, 4% per annum for next 5 years and6% per annum for next 7 years. If he paid Rs 2059 as interest, then what is the sum borrowed (in Rs)?

Statement : It has been reported by one of the TV channels that the answer papers of Board examination of one State are evaluated by students studying in the same standard with the help of model answers as instructed by the examiners.

Courses of Action :
I. All such examiners should be immediately suspended from their official positions.
II. All such papers evaluated by the students should be immediately confiscated and got evaluated by qualified teachers.
III. The Board should explore possibilities even though they are remote, of getting the answer papers of this examination evaluated by computerised machines.

A sum of Rs 10000 becomes Rs 14641 when invested at compound interest at the yearly interest rate of 20% per annum. If the compounding is done half yearly, then for how many years was the sum invested?

Two equal sums were lent, one at the rate of 11% per annum for five years and the other at the rate of 8% per annum for six years, both under simple interest. If the difference in interest accrued in the two cases is Rs 1008. Find the sum?

The simple interest on a sum for 5 years is Rs 16800. The rate of interest for the first 3 years is 8% per annum and for the next 2 years is 12% per annum. What is the value (in Rs) of sum?

An earth moving equipment costs Rs. 5,00,000 and has an estimated life of 10 years and a salvage value of Rs. 50,000. What uniform annual amount must be set aside at the end of each of the 10 years for replacement if the interest rate is 8% per annum and if the sinking fund factor at 8% per annum interest rate for 10 years is 0.069?

A common convention is: • is evaluated first • and are evaluated next • Quantifiers are evaluated next • is evaluated last.

A common convention is:
• is evaluated first
• and are evaluated next
• Quantifiers are evaluated next
• is evaluated last.

A sum of money at a certain rate per annum of simple interest doubles in the 5 years and at a different rate becomes three times in 12 years. The lower rate of interest per annum is = ?