Naitik borrowed ₹70,000 from his colleague at an interest of 4% per annum,to buy a LED TV. He has to pay a total interest of ₹7,000. Calculate the time period for which Naitik borrowed the money from his colleague.
Important Questions on Equations
Sofia took a loan from the bank to buy a new car. Look at the details she filled in the loan application form.
Loan was offered by the bank at the rate of _____ per annum.
(Round off to decimal places)
Anjali was looking at her fixed deposits receipts. Can you tell which of the fixed deposits earned her the lowest interest?
Sanjay‘s father had borrowed ₹25,00,000 from a bank to purchase an apartment in Bangalore. It took 12 quarters for Sanjay to repay the loan amount.
If the interest amount was ₹1,55,625 per quarter, then the rate of interest per annum was _____ %.
The bank approved Sheetal’s bank loan of ₹5,50,000 at a rate of 10% per annum. In the loan period of _____ months, Sheetal had to pay an interest amount of ₹33,000.
(Give the answer in decimals)
Mrs. Suvarna purchased a savings certificate from the bank for . By the time the fixed deposit got matured her money doubled.
The interest rate per annum for this deposit is _____ (Round off to decimal places)
Rajeshwari had taken loans from 2 banks to buy an apartment. Look at her online loan applications. She paid more interest to Bank _____.
Surya borrowed a sum of ₹80,000 from his colleague, to pay his son’s college fees. He had promised to pay back the money with interest in a year’s time. If the interest amount is ₹8,000, the quarterly interest rate at which Surya paid back the money is _____%
One day Pramod went to an electronics showroom to buy a Fridge. The catalogue of the Fridge, with the price details were as follows:
|
|
Interest rate (R) = 4% per year |
|
|
Fridge Name |
Principal(P) |
Term or period(T) |
|
Samsung |
₹18,000 |
200 days |
|
Whirlpool |
₹19,500 |
150 days |
|
Godrej |
₹20,000 |
300 days |
If Pramod wanted to buy a fridge which had the lowest interest to be paid, you would recommend the brand _____ .
(Note: Mention the brand name)
Suraj invested ₹1,00,000 in his savings bank account. When he checked his account after 5 years, it was ₹1,75,000. Suraj got ₹_____ for every ₹100.
Soham took a loan of ₹4,00,000 from the bank to renovate his house.If the total interest paid by Soham is ₹40,000 at the rate of 5 % per annum, then the loan period is _____ years.
Sanjana’s father had borrowed ₹50,000 to buy her a computer at 4 % per annum. If the extra money that Sanjana’s father had to pay on the money borrowed is ₹2,000, then it took _____ days to pay back the borrowed money.
Sunitha had borrowed money from two of her neighbours to bear her mother’s medical expenses. Here are the loan details.
Whom did Sunitha pay more interest?
