SNAP Interest Questions

Let the rate of interest be x% and Principal amount be P

Simple interest in 1st case = $$\frac{\left(P\cdot3\cdot X\right)}{100}$$

Simple interest in 2nd case = $$\frac{\left(P\cdot3\cdot\left(X+2\right)\right)}{100}$$

Given the difference is 360 

$$\frac{\left(3\cdot P\right)}{100}\left(X+2-X\right)$$ = 360

So on solving we get P=6000.

Let  the total amount invested be 9x

So the interest for 2 years on 4x amount at 6% per annum simple interest = $$\frac{\left(4x*2*6\right)}{100}$$

     the interest for 2 years on 5x amount at 7% per annum simple interest = $$\frac{\left(5x*2*7\right)}{100}$$

Given the sum of these = 348

1.18x = 348 => x$$\simeq\ $$295

So the total amount invested = 2655

Let the current interest be r%

$$800+\ \frac{\ 800\times\ r\times\ 3}{100}\ =\ 956$$

r = 6.5%

Updated rate of interest = 3+6.5 = 9.5%

Sum after 3 years = $$800+\ \frac{\ 800\times\ 9.5\times\ 3}{100}\ =1028$$

Simple Interest = $$\ \frac{\ P\cdot T\cdot r}{100}$$ where P is the principal, T is the time period and r is the rate of interest.

The simple interest accrued on a sum of certain principal in 8 years at the rate of 13% per year is Rs.6500

6500=$$\ \frac{\ P\times\ 8\times\ 13}{100}$$

P = Rs. 6250

Compound Interest on 6250 for 2 years at 8% rate of interest = 6250$$\left(1+\ \frac{\ 8}{100}\right)^2$$- 6250

= Rs. 1040

A is the correct answer.

SI = $$\frac{PTR}{100}$$

Given SI = 7/25P when t=4

$$\frac{7}{25}P\ =\frac{4PR}{100}$$

=> R=7

Let us assume that the investment made at bank A at 6% S.I. is Rs. x

Since, total investment= Rs. 9000, Investment made at bank B at 8% S.I.= Rs. (9000-x)

From bank A, interest earned= $$\ \frac{\ P.r.t}{100}$$, where P= Principal amount, r= rate of Interest and t= time period of investment in years.

So, Interest from bank A= $$\ \frac{\ x.6.3}{100}$$= $$\ \frac{\ 18x}{100}$$

From Bank B, Interest earned for 3 years= $$\ \frac{\ \left(9000-x\right).8.3}{100}=\ \frac{\ 216000-24x}{100}$$

Equating the sum of interests earned from both the banks to the value given i.e. 1800, we find,

1800=$$\ \frac{\ 216000-24x}{100}+\ \frac{\ 18x}{100}=\ \frac{\ 216000-6x}{100}$$

=>$$\ 1800\cdot100=\ \ 216000-6x$$

=> $$\ 6x=\ \ 216000-180000$$

=>x=$$\ x=\ \ \ \frac{\ 36000}{6}$$

.'. x= Rs. 6000- Option B