Arun Sharma Solutions for Exercise 2: Level of Difficulty

A certain sum of money was lent under the following repayment scheme based on Simple interest:

$8\%$ per annum for initial $2$ years.

$9.5\%$ per annum for the next $4$ years.

$11\%$ per annum for the next $2$ years.

$12\%$ per annum after the first $8$ years.

If a person repaid $₹22500$ after $10$ years of borrowing a loan at $10\%$ per annum simple interest, find out what amount did he take as a loan?

An industrialist takes a loan of $₹500000$ and had to clear it in $20$ years. He repays the principal of his loan equally over the $20$ years. Find the total interest paid by him in $20$ years on his loan, if the rate of interest is $10\%$ per annum simple interest?

Hans Kumar borrows $₹7000$ at simple interest from the village moneylender. At the end of three years, he again borrows $₹3000$ and closes his account after paying $₹4615$ as interest after eight years from the time he made the first borrowing. Find the rate of interest.

Some amount was lent at $6\%$ per annum simple interest. After one year, $₹6800$ is repaid and the rest of the amount is repaid at $5\%$ per annum. If the second year's interest is half of the first year's interest, find what amount of money was lent out.

An amount of $₹12820$ due $3$ years, hence, is fully repaid in three annual instalments starting after one year. The first instalment is $\frac{1}{2}$ the second instalment and the second instalment is $\frac{2}{3}$ of the third instalment. If the rate of interest is $10\%$ per annum, find the first instalment.

A sum is divided between A and B in the ratio of $1:2$. A purchased a car from his part, which depreciates $14\frac{2}{7}\%$ per annum and B deposited his amount in a bank, which pays him $20\%$ interest per annum compounded annually. Approximately by what percentage will the total sum of money increase after two years due to this investment pattern?

Michael Bolton had $\$90000$, of which he purchased a car, a laptop and a flat for $\$15000, \$13000$ and $\$35000$ respectively and deposited the remaining money in a bank deposit that pays compound interest at $15\%$ per annum. After two years, he sold the three items at $80\%$ of their original price and withdrew his entire money from the bank closing the account. What is the total change in his assets?