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Example 26: How long will it take for a sum of `28,500 invested at 7% per annum simple interest
to amount to `32,000?
Solution: We have,

P = `28,500, A = `32,000, R = 7%
Let time = T years Think and Answer
Therefore, Under a scheme ‘Pradhanmantri Swarojgar

Simple Interest = Amount – Principal Yojana’, Nakul’s father took a loan of `50,000
from a bank to expand their business. The
= `32,000 – `28,500 bank gave the loan at the rate of 4.5 %

= `3,500
p.a. At the end of the tenure, he returned
Time =  100 × SI..  `70,250 to the bank. Find the tenure of the


loan he had taken.

×
 PR
×
 100 3500 100 43
=  28500 7  = 57 = 1 57 years


×
Practice Time 10D
1. Fill in the blanks in the table given below:

(a) (b) (c) (d)
Principal (`) 4800 12500 ........ .........

Time 2 years ......... 3 years 73 days
Annual rate of 15 6 ......... .........
Interest (%)
Simple interest (`) ......... ......... 1812 144
Amount (`) ......... 12750 9362 4944

2. Find the amount on the sum of `2920 from April 15 to August 2 at 10% per annum.
3. In how many years will a certain sum become 4 times of itself at 20% per annum under simple interest?
1
4. Ragini earned ₹10763.50 in 2 years on the principal of `8360. Find the rate of interest.
2
5. Nandini borrowed `45000 from a bank at 8% rate of interest for 3 years. He lent this sum of money
at a 10% rate of interest for 3 years. How much did she earn from this transaction?

6. At what time will a sum of `9000 amount to `9960 at 8% per annum simple interest?
7. A certain sum of money at a simple interest rate amounts to `1500 in 10 years and `1725 in 13 years.
Find the sum and rate of interest.

Maths Talk

In a company, the ratio of managers to employees is 1 : 5. If 30% of the managers and 40% of the employees
attend a training session, and the total number of attendee is 230, how many managers and employees are
there in the company?

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