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**ganesh****Administrator**- Registered: 2005-06-28
- Posts: 33,311

Hi,

Neat work!

#7827. Jacob has taken a loan of $20,500 at 10% simple interest. He pays $21,500 at the end of 2nd year. How much should he pay if he wants to clear his debt at the end of the third year?

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: 33,311

Hi,

Neat work!

#7828. Two equal sum were lent out at 7% and 5% simple interest. The interest earned on the two loans add up to $960 for four years. Find the total sum lent out.

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: 33,311

Hi,

Neat work!

#7929. How much will a sum of $12,000 deposited at the rate of 9% per annum simple interest for 13 years amount to?

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: 33,311

Hi,

Neat work!

#7930. What would be the compound interest obtained on an amount of $7,790 at the rate of 10% per annum after two 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: 33,311

Hi,

Neat work!

#7931. The simple interest accrued in 2 years on a principal of $24,000 is one-eighth of the principal. What is the simple interest per annum?

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: 33,311

Hi,

Good work!

#7932. In how many years will $4400 amount to $5984 at 4 % per annum simple interest?

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: 33,311

Hi,

Excellent!

#7933. Smith deposited $5000 at 10% simple interest for 2 years. How much more money will Smith have in his account at the end of two years, if it is compounded 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: 33,311

Hi,

Excellent!

#7934. An article is sold for $600 or $100 cash down along with 3 equal instalments. If the rate of interest charged is 10% per annum, then find the monthly instalment.

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: 33,311

Hi,

Excellent!

#7935. The difference between simple interest earned by Bevan and Herbert is $48 on $12,000 for 2 years. What is the difference in 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: 33,311

Hi,

Neat work!

#7936. The difference in interests on a certain sum at 15% per annum for 6 years and 20% per annum for 4 years is $345.50. Find the sum.

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: 33,311

Hi,

Neat work!

#7937. Jackie invested $12000 in a bank at 15% per annum compound interest. He pays 40% of his income from interest to a charitable trust every year. How much money does Jackie have after 4 years?

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: 33,311

Hi,

Excellent!

#7938.

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: 33,311

Hi,

Neat work!

#7939.

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

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