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How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum?
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How much time would be the simple interest on a certain sum be 0.125 t...
Understanding Simple Interest
Simple interest is calculated using the formula:
Interest = Principal × Rate × Time
Where:
- Principal is the initial sum of money.
- Rate is the interest rate (in decimal).
- Time is the duration the money is invested or borrowed for (in years).
Given parameters
- Rate = 10% per annum = 0.10
- Interest = 0.125 times the Principal
This means:
Interest = 0.125 × Principal
Setting up the equation
Using the formula for simple interest:
0.125 × Principal = Principal × 0.10 × Time
To simplify, divide both sides by Principal (assuming Principal is not zero):
0.125 = 0.10 × Time
Calculating Time
Now, we can solve for Time:
Time = 0.125 / 0.10
Time = 1.25 years
Conclusion
The time required for the simple interest to be 0.125 times the principal at a rate of 10% per annum is:
This result indicates that if you invest or borrow a certain sum at 10% interest per annum, it will take 1.25 years for the interest to amount to 12.5% of the principal amount. Understanding this concept is essential for effective financial planning and investment strategies.
Simple interest is calculated using the formula:
Interest = Principal × Rate × Time
Where:
- Principal is the initial sum of money.
- Rate is the interest rate (in decimal).
- Time is the duration the money is invested or borrowed for (in years).
Given parameters
- Rate = 10% per annum = 0.10
- Interest = 0.125 times the Principal
This means:
Interest = 0.125 × Principal
Setting up the equation
Using the formula for simple interest:
0.125 × Principal = Principal × 0.10 × Time
To simplify, divide both sides by Principal (assuming Principal is not zero):
0.125 = 0.10 × Time
Calculating Time
Now, we can solve for Time:
Time = 0.125 / 0.10
Time = 1.25 years
Conclusion
The time required for the simple interest to be 0.125 times the principal at a rate of 10% per annum is:
- 1.25 years
This result indicates that if you invest or borrow a certain sum at 10% interest per annum, it will take 1.25 years for the interest to amount to 12.5% of the principal amount. Understanding this concept is essential for effective financial planning and investment strategies.
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How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum?
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How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum?.
How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How much time would be the simple interest on a certain sum be 0.125 times the principal at 10%per annum?.
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