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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Excellent!

#7903. Simpson invested a sum of $15,000 at 9% per annum simple interest and $12,000 at 8% per annum compound interest compounded annually for a period of two years. What amount of interest did Simpson earn in 2 years?

It is no good to try to stop knowledge from going forward. Ignorance is never better than knowledge - Enrico Fermi.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Excellent!

#7904. If I have to pay $4900 in 5 months from now, then what amount should I pay totay if the rate of simple interest is 5% per annum?

It is no good to try to stop knowledge from going forward. Ignorance is never better than knowledge - Enrico Fermi.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Neat work!

#7905. Find the amount paid by a borrower after 6 years, if he had borrowed $6000 at 15% per annum simple interest.

It is no good to try to stop knowledge from going forward. Ignorance is never better than knowledge - Enrico Fermi.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Good work!

#7906. Find the compound interest on $12000 at 10% per annum for 5 years (compounded annually).

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Excellent!

#7907. Find the difference between compound interest and simple interest on $16,000 for one year reckoned half-yearly.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Corrigendum : #7907. Find the difference between compound interest and simple interest on $16,000 for one year at 10% per annum reckoned half-yearly.*(Sorry for the inconvenience).*

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Neat work!

#7908. Find the amount payable after 3 years if a sum of $15000 is deposited in a bank at the rate of 12% per annum, compounded half-yearly (to the nearest Dollar).

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Excellent!

#7909. If the interest paid by Sally on $14,000 is $1,260 for a period of three years, then find the rate of simple interest charged.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Good work!

#7910. Find the Principal which will give $29,700 as simple interest at the rate of 9% per annum in 5 years 6 months.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Neat work!

#7911. A sum of money becomes 6 times in 20 years at r% per annum Simple Interest. Find the value of r.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Neat work!

#7912. Find the amount payable after one year, it a loan of $2500 is taken 24% per annum simple interest charged quarterly.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

Smart work!

#7913. An amount of loan is discharged by paying 3 equal instalments of $9,261 each. If the rate of interest charged was 20% per annum compounded quarterly, then find the amount of loan borrowed.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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**irspow****Member**- Registered: 2005-11-24
- Posts: 1,055

I am at an age where I have forgotten more than I remember, but I still pretend to know it all.

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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,035

Hi,

#7914. The compound interest on a sum of money for 2 years is $2750 and that for three years is $4550. Find the rate of interest.

Nothing is better than reading and gaining more and more knowledge - Stephen William Hawking.

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