NIMCET Previous Year Questions (PYQs) – Interest
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A sum of money was divided into 2 parts in the ratio 2:5. First part was invested for 2
years at the annual interest rate of 20% compounded annually. At what rate of simple
interest per annum the second part must be invested for 2 years, so that the interest
earned in both cases is the same?
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Solution
Solution:
Ratio =
CI on
SI on
Equating ⇒
Ratio =
CI on
SI on
Equating ⇒
Hari invested an amount at a certain rate of interest on simple interest and he got 60% more amount after eight years. If he invests Rs. 9600 at the same rate of interest on simple interest, then find the total interest he would get after four years?
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Solution
Given: 60% interest in 8 years using Simple Interest (SI).
So, rate (R) = (60 / 8) = 7.5% per annum
Now, SI on ₹9600 for 4 years at 7.5%:
SI = (9600 × 7.5 × 4) / 100 = ₹2880
✅ Final Answer: ₹2880
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