How to Solve Simple Interest
Problems
( Class 8 RS Aggarwal Exe-8A Goyal Brothers
ICSE Maths Solutions Ch-8 )
The formula for calculating simple interest
is: (P x Rx 100, WhereP = Principal
amount (the beginning balance). R = Interest
rate per year, T = Number of Year
Note If Time is given in month then divide it
by 12 to make in year and if time is given in
days then divide it by 365 to make it in year.
Final Amount = Principal (beginning balance)
+ Simple interest
Exercise- 8A
( Simple Interest and Compound Interest
Class 8 RS Aggarwal Goyal Brothers ICSE
Maths Solutions Ch-8 )
Que-l: Find the simple interest and amount
on :
(i) Rs4500 for 2*(1/2) years at 7*(2/3)%per
annum
(ii) Rs6360 for 6 years 3 months at 8% per
annum
(iii) Rs19200 for 11 months at 9*(3/4)%per
annum
(iv) Rs58400 for 75 days at 6*(1/2)%per
annum
Sol: (i) = (PxRxT)/100
5175/6 = Rs862.50
- 862.50 + 4500
= Rs5362.50
(ii) Given principle (P) = Rs 6360
time(T) = 6 years 3 months = 6+ 3/12 = 25/4
years
Rate of interest (R) = 8%
s.l = OO
s.l = / 100*4
s.l = Rs 3180
Amount = principle + simple interest
= 6360 + 3180 = Rs 9540
(iii) Given principle (P) = Rsl 9200
time(T) = 11 months = 11/12 years
Rate of interest (R) = 9*(3/4) = 39/4 %
s.l = OO
s.l = /
s.l. = Rs1716
Amount = principle + simple interest
= 1716+19200
= Rs20916
(iv) Given principle (P) = Rs58400
time(T) = 75 days = 75/365 year
Rate of interest (R) = 6*(1/2) = 13/2 %
s.l = OO
s.l = /
s.l. = Rs780
Amount = principle + simple interest
= 58400 + 780
= Rs59180.
Que-2: Find the simple interest on Rs8600
from 18th October, 2006 to 13th March, 2007
at 8% per annum. Also find the amount.
Sol: Given : Rs.8600 from 18th October,2006
to 13th march ,2007 at 8%per annum.
We have .
Time = 146 days
Principal = ?8600
Rate = 8%
s.l. = PxRxT/100
= 8600x8x146 / 1oox365
= ?275.20
Amount = Principal + S.l.
= 8600+?275.2
= 8875.20
Que-3: Ashish lent Rs10500 to Sunidhi at 7%
per annum simple interest. After 5 years,
Sunidhi discharged the debt by giving a watch
and Rs13000 in cash. What is the value of the
watch ?
Sol: Principal = P = 10500
rate of interest = R = 7%
time = 5 years
simple interest = PTR/100
= /100
= 3675.
Amount to be returnedafter 5 years = P + R
= 10500 + 3675
= 14175
Cash given = 13000
remaining balance = 14175 - 13000
= 1175
Que-4: In what will the simple interest on
Rs7560 be Rs1102.50 at 6*(1/4)%per
annum ?
Sol: I = pxrxt/1 00
1102.50 = 7560x6xt/1 OO
1 1 02.50x100/7560x6
110250/45360
t = 2.43 years
t = 2 years 4 months.
Que-5: In how much time will Rs25600
amount to Rs35664, when money is worth 9*
(1/4)% per annum simple interest ?
Sol: Amount (A) = 35,664
Principal (P) = 25,600
Simple Interest = Amount - Principal
= 35664 - 25600
= 10064
Rate = 37/4 %
Simple Interest = PxRxT/100
10064 = 25,600 x 37/4 x T /100
1006400= 6400x37xT
1006400 = 236800 x T
T = 1006400/236800
T = 4.25 Year!
T = 4 years 3 months
Que-6: At what rate percent per annum will
Rsl 625 amount to Rs2080 in 3*(1 years?
Sol: Principle = 1625
Amount = 2080
Time = 3 1/2 = 7/2 years = 3.5
Interest = Amount - Principal
Interest = 2080 - 1625
Interest = 455.
I = Interest, P = Principal, T = Time.
Rate percentage = (IXI 00)/(PxT)
= (455x1 625x3.5)
= 45500/5687.5
Que-7: At what rate percent per annum will
the simple interest on Rs6720 be Rs1911 in 3
years 3 months ?
Sol: The simple interestgiven is Rs. 1911.
Principal amount is Rs. 6720.
Numberof years = 3 years and 3 months
3 months
- 39/12 years = 3.25 years
Simple Interest = PxRxT/100
1911 -
R = (1911
R = 8.75% =
Que-8: At what rate percent of simple interest
will a sum of money double itself in 12 years?
Sol: Let say Sum of Money = P
Sum of Money Doubles = 2P
Interest Earned = 2P ¯ p p
Rate of interest = R
Time = 12 Years
Simple interest = R / 100
= p = p *R *12/100
-R: 100/12
= = 25/3
= R = 8.33% =
Que-9: Simple interest on a certain sum is
(9/16) of the sum. Find the rate percent and
the time if both are numerically equal.
Sol: Let the sum of money be x
Simple interest = 9x/1 6
Let the rate percent = R%
Time = R years
As we know,
Simple Interest = R*
(x * R)/100 =
R2/100 = 9/100
R2 = 900/16
R = 30/4
R= p.a.
T =R= years
Que-10: What sum will yield Rs406 as simple
interest in 1 year 2 months at 6*(1/4)%per
annum ?
Sol: Let the principle be Rs. x .
= Rs. 406
Rate = 25/4 %
Time = 1 year and 2 months
= 1 + 2/12 = 7/6 years.
ATQ,
406 = 25/400 x 7/6
x 406
5568
Que-ll: What sum will amountto Rs1748 in
2*(1/2) years at 7*(1/2)% per annum simple
interest ?
Sol: s.l. = 1748
T= /2) = 5/2 years
Simple Interest = P* R * T/ 100
1748 = p+(prt/100)
p = 1748x100/(100+7.50.5)
= 1472
Que-12: A sum of money becomes (8/5) of
itself in 5 years at a certain rate of simple
interest. Find the rate of interest.
Sol: Given: Time, T=5 years
Let the principal be P
Rate of interest =R
Amount, A = 8P/5
Simple Interest,S.l= Amount - Principal
—3P/5
s.l = 3P/5
Again,s.l = OO
3P/5 = PxRx5/100
3/5 = 5R/100
3/5 = R/20
R = (300)/5
R = 3x4
R = 12%.
Que-13: What sum of money lent at 12*
(1/2)% per annum will produce the same
interest in 4 years as Rs8560 produces in 5
years at 12% per annum ?
Sol: Interest = (Principal x Rate x Time) /
100
Interest = (8560 x 12 x 5) / 100 = 5136
So, the interest earned by 8560 in 5 years is
5136.
Interest = (Principal x Rate x Time) / 100
Let the principal be P.
The interest earned by P in 4 years at 12.5%
per annum will be:
Interest = (P x 12.5 x 4) / 100 = O.5P
We want the interest earned by P in 4 years
to be equal to 51 36, so:
O.5P = 5136
p = 10272
Que-14: If Rs1250 amount to Rs1550 in 3
years at simple interest, what will Rs3200
amount to in 4 years at the same rate ?
Sol: Interest = (Principal x Rate x Time) /
100
(1550-1250) = (1250x3xR)/1 OO
R = (300x1
= 1024
Now we can add the above interest and the
principle amount.
= 1024 + 3200
= 4224.
Que-15: A sum of money lent at simple
interestamountsto Es3224 in 2 years and
Rs4160 in 5 years. Find the sum and rate of
interest.
Sol: x = sum of money to be lent
y = % rate per annum
a/q
when time= 2 years, Amount = 3224
so, 3224 = x + 00. -
and when time= 5 years, Amount = 4160
so, 41 60 = x + 00. -
solving equation I and ii we get..
x = 2600
and y = 12%
Que-16:A lend Rs 2500 to B and a certain
sum to C at the same time at 7% per annum
simple interest. If after 4 years, A altogether
receives Rsl 120 as interest from B and C,
find the sum lent to C.
Sol: Let the sum lent to C be x.
Given the rate of interest is 7%.
Now according to the question,
[(2500x7x4)/100] + [(xx7x4)/1 00] = 1120
= 112000
= 4000
x = 4000-2500 = 1500
Hence the sum lent to C is Rs.1 500.
Que-17: The simple interest on a certain sum
for 3 years at 8% per annum is Rs96 more
than the simple interest on the same sum for
2 years at 9% per annum. Find the sum.
Sol: Condition l:- For 3 years at the rate
of 8% per annum.
s.l. = (Px8x3)/1 00.....(1 )
condition Il:- For 2 years at the rate of 9% per
annum.
s.l. = (Px9x2)/1 00.....(2)
Now according to the question-
(Px8x3)/1 = [(Px9x2)/100] + 96
(Px24)/1 = [(Px1 OO
24P= 18P = 9600
24P-18P = 9600
P = 9600/6 = 1600
Hence the sum is Rs.1 600.
Que-18: Two equal sums of money lent at
simple interest at 11% p.a., for 3*(1/2) years
and 4*(1/2) years respectively. If the
difference in interests for two periods was
Rs412.50, find each sum.
Sol: Let each sum be x.
Given that rate of interest is 11%
Now according to the question-
[(xxl 1 OOX2)] [(xxl 1 OOX2)]
412.5
= 412.5000
= 82500
x = 82500/22 = 3750
Hence the value of each sum is Rs.3750.
Que-19: Divide Rs6000 into two parts so that
the simple interest on the first part for 9
months at 12% per annum is equal to the
simple interest on the second part for 1*(1/2)
years at 10% per annum.
Sol: Let one part is x and other part
is (6000-x)
Now,
S.l on first part = S.I. on second part
[xx(1 2/1 2)]
x = 3750
and (6000-x)
6000-3750 = 2250
Therefore two parts
of 6000 are 3750 and 2250.
Que-20: Divide a sum of Rs13500 into two
parts such that if one part be lent at 8*(1/3)%
per annum for 2 years 9 months and the other
at 7*(1/2)% per annum for 1 year 8 months,
the total interest received is Rs2375.
Sol: Let the one part be x and other
be (13500-x)
[(13500-
= 2375
5x = 114000-81000
x = 6600
13500-6600 = 6900
So, two parts are Rs6600 and Rs6900
Que-21: In what time will a sum of money lent
at 8*(1/3)% simple interest become 4 times
of itself.
Sol: as per question A = 4P
You also know that the rate (R) is 8 1/3%,
which is equivalent to 25/3%.
= (P x Rx T) / 100
= (P x (25/3) x T) / 100
A- P = (P x (25/3) x T) / 100
4P - P = (P x (25/3)x T) / 100
3P = (P x (25/3) x T) / 100
3 = (25/3) x T/ 100
T = (3 x 100) / (25/3)
T = 300 / (25/3)
T = 36 years
Que-22: A certain sum of money lent out 6*
(2/3)% p.a., produces the same simple
interestin 6 years as Rs3200 lent out at 8*
(2/5)% p.a. for 7 years, Find the sum.
Sol: TO KNOWTHE SUM,
P: 3200, R: 8 2/5 0/0= 42/5,
= PRT/IOO
= 9408/5 = Rs.1881.6
In second case, P=?
P = Six IOO/RxT
(18816x1 ox20x6)
= Rs.4704.
Que-23: Naveen and Praveen borrowed
Rs42000 and Rs55000 respectively for 3*
(1/2) years at the rate of interest. If Praveen
has to pay Rs3640 more than Naveen, find the
rate of interest.
Sol: Given that Naveen
borrowed Rs.42000 and Praveen
borrowedRs.55000.
Time period = 72 years
= PRT/IOO
s.l. paid by Naveen= =
21 Oxrx7
s.l. paid by Praveen = =
225xrx7
Given that the difference in the interest paid
by Praveen and Naveen is Rs.3640
Therefore,
225xrx7 - 21 = 3640
rx7x(275-210) = 3640
r = 3640/(7x65)
Hence the rate of interest is 8%.
Que-24: A sum of money was put at simple
interestat a certain rate for 2 years. If this
sum had been put at 3% higher rate, it would
have earn Rs720 more as interest. Find the
sum.
Sol: So 3% produces 720/2 for 1 year
which is 360 per year
Interest = OO
360 = / 100
On Solving P = 360*100/3
p = 12,000
Que-25: A sum of money invested at 6% p.a.,
simple interest for a certain periods of time
yields Rs960 as interest. If this sum had been
invested for 5 years more, it would have
yielded Rs2160 as interest. Find the sum.
Sol: 5 years interest = 2160-960 = 1200
int for one year = 1200/5= 240
int for 4 years = 960
let sum be p, time be n, rate of int be r
simple int = pnr/1 00
960= p* 4* 6/1 OO
= Rs. 4000