Interest And Discount use for UGC NET Mathematical Reasoning Paper -1
Interest And Discount :- Recurring payments made at a particular growing are made while using borrowed money or to pay back payment back debts.
Types of interest :- there are two types of interest 1. simple interest, 2. compound interest
1. Simple interest :- Calculating the amount of interest that will be owed on a sum of money at a certain rate and for a specific period of time is called simple interest.
S.I. = P × R × T/100 , where P = Principal, R = Rate of Interest in % per annum, and T = Time
2. compound interest :- Compound interest is calculated using the sum of the principal and interest.
A = P (1 + r/100)n
Example of Simple Interest And Discount question :-
1 Simple interest on a sum of money equals Rs. 815 in three years and Rs. 854 in four. The total amount is
Principal = ?
S.I. = P × R × T/100
simple interest in 3 years Rs. 815
simple interest in 4 years Rs. 854
difference in 3 years and 4 years of simple interest is = 854 -815
simple interest in 1 years Rs. 39
simple interest in 3 years = 39*3
simple interest in 3 years = 117
Principal = simple interest – interest in 3 years
Principal = 815 – 117
Principal = 698
2 Saurabh invested Rs. 13,900 split between two distinct investment schemes, A and B, at annual simple interest rates of 14% and 11%, respectively. What was the amount invested in Scheme B if the simple interest generated over the course of two years was Rs. 3508?
3 A money earned a total simple interest of Rs. 4016.25 over a 5-year period at a rate of 9 % p.a. What’s the total
4 How Much time it will take for a sum of Rs. 450 to earn Rs. 81 in interest at a basic interest rate of 4.5%
5 Saurabh borrowed Rs. 1200 with simple interest charged over the same number of years as the interest rate. What was the interest rate if he paid Rs. 432 in interest at the conclusion of the loan period
Important Interest And Discount Question for UGC NET Exam preparation and Put the answer on comment.
1. At the simple interest rate, a fund of Rs. 15,500 becomes Rs. 20,500 in 4 years. What is the interest rate
2. A financier for automobiles says he is lending money at a basic interest rate, but he adds interest every six months when determining the principle.If he is charging an interest of 5%, the effective rate of interest becomes
3. A received a total of Rs. 2200 in interest from both of them after lending Rs. 5000 to B for two years and Rs. 3000 to C for four years on simple interest at the same rate of interest. The annual percentage rate of interest is
4. At the start of year, Rs. 725 is lent at a specific interest rate. After 8 months, another loan of Rs. 362.50 is made, but at a rate that is twice as high as the first. Interest from both loans totals Rs. 33.50 at the end of the year. What was the initial interest rate
5. A man borrowed money from a bank at a simple interest rate of 12% per year. He was required to pay Rs. 5400 in interest only after 3 years. Find out the principal amount.
6. At the same basic interest rate, a sum of money equals Rs. 9800 after five years and Rs. 12005 after eight. The rate of interest per annum is
7. What would the ratio between the simple interest earned on a certain sum over a period of 4 years and a period of 6 years be
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