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If simple interest on ₹2 000 increases by ₹40when the time increases by 4 years.Find the rate percent per annum. (a) 1% (b) 0.5% (c) 2% (d) None of these?
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If simple interest on ₹2 000 increases by ₹40when the time increases b...
Solution:
Given, principal amount (P) = ₹2 000 and increase in simple interest (I) = ₹40
Let the rate percent per annum (R) be x% and the time period (T) be y years.
According to the question, we have
(I) = PRT/100
⇒ 40 = (2000)(x)(4)/100
⇒ x = 1%
Therefore, the rate percent per annum is 1%. Hence, the correct option is (a).
Explanation:
To solve this question, we need to use the formula for simple interest which is given by I = PRT/100, where I is the interest, P is the principal amount, R is the rate percent per annum and T is the time period.
We are given that when the time period increases by 4 years, the increase in simple interest is ₹40. Using this information, we can form the equation 40 = P(x)(4)/100, where P is the principal amount and x is the rate percent per annum.
Solving this equation for x, we get x = 1%. Therefore, the rate percent per annum is 1%.
Hence, option (a) is the correct answer.
Given, principal amount (P) = ₹2 000 and increase in simple interest (I) = ₹40
Let the rate percent per annum (R) be x% and the time period (T) be y years.
According to the question, we have
(I) = PRT/100
⇒ 40 = (2000)(x)(4)/100
⇒ x = 1%
Therefore, the rate percent per annum is 1%. Hence, the correct option is (a).
Explanation:
To solve this question, we need to use the formula for simple interest which is given by I = PRT/100, where I is the interest, P is the principal amount, R is the rate percent per annum and T is the time period.
We are given that when the time period increases by 4 years, the increase in simple interest is ₹40. Using this information, we can form the equation 40 = P(x)(4)/100, where P is the principal amount and x is the rate percent per annum.
Solving this equation for x, we get x = 1%. Therefore, the rate percent per annum is 1%.
Hence, option (a) is the correct answer.
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If simple interest on ₹2 000 increases by ₹40when the time increases by 4 years.Find the rate percent per annum. (a) 1% (b) 0.5% (c) 2% (d) None of these?
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If simple interest on ₹2 000 increases by ₹40when the time increases by 4 years.Find the rate percent per annum. (a) 1% (b) 0.5% (c) 2% (d) None of these? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If simple interest on ₹2 000 increases by ₹40when the time increases by 4 years.Find the rate percent per annum. (a) 1% (b) 0.5% (c) 2% (d) None of these? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If simple interest on ₹2 000 increases by ₹40when the time increases by 4 years.Find the rate percent per annum. (a) 1% (b) 0.5% (c) 2% (d) None of these?.
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