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Aptitude - Simple Interest - Discussion

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"I never think of the future. It comes soon enough."
- Albert Einstein
6. 

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

[A]. 3%[B]. 4%
[C]. 5%[D]. 6%
[E]. None of these

Answer: Option

Explanation:

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = 100 x 3000 % = 6%
12500 x 4


Answer Me said: (Fri, Jun 25, 2010 02:31:57 AM)    
 
Can someone please explain why we sub 12500 from 15500 ?

Priyanka said: (Mon, Nov 29, 2010 10:20:12 AM)    
 
@answer me

To get amount of S.I. for four years..

Juhi said: (Mon, Jul 4, 2011 04:31:39 AM)    
 
Amount = principal + simple interest.

Dats why we subtracted amount and principal to have the simple interest.

Yeswanth said: (Sat, Jul 30, 2011 09:12:35 PM)    
 
Still I deosn't understand why we have to consider SI as sub 1550 from12500.

Abhishek said: (Mon, Aug 1, 2011 11:05:10 AM)    
 
Is it like

Amount= P + S.I

Amount= P + (P*T*R)/100 ?

S.Gowthami said: (Fri, Aug 12, 2011 12:33:38 AM)    
 
In that question we are having 3 rate values,so we substitue one by one values then we get the corrct values.for example:
p=12500
n=4
r=3 or 4 or 5 or 6

If we sub:3
12500*4*3/100=1500
1500+12500=14000,we are not getting the correct amount value then
We sub another,
12500*6*4/100=3000
3000+12500=15500,

Now we got the correct value.

Aayush Bhatnagar said: (Tue, Sep 13, 2011 11:03:35 AM)    
 
The calculation used to calculate rate gives out 30 as the answer.

[(3000 x 100)/(12500 x 4)] = 30. NOT 6.

Can anyone throw a light on this?

Jenson said: (Fri, Sep 23, 2011 09:07:59 PM)    
 
A boy saves Rs.4.65 daily. Find the least number of days in which he will be able to save an exact number of rupees.

Can anyone get me answer for this ?

Karuna said: (Wed, Sep 28, 2011 12:19:06 PM)    
 
"R" means what?

Ruturaj said: (Fri, Nov 4, 2011 11:11:03 AM)    
 
He calculation used to calculate rate gives out 150 not 6.

Gayu said: (Sat, Jul 7, 2012 04:55:47 PM)    
 
Here, 6 is the correct answer.

15500-12500=3000.

Formula:

SI=PNR/100.

3000=12500*4*R/100.

3000*100/12500*4=R.

300000/50000=R.

R=6%.

Pandu said: (Fri, Feb 22, 2013 10:18:45 AM)    
 
Here SI=PTR/100

So, SI=15500-12500=3000. P=12500, T=4YER,

SO 3000=12500*4*R/100,

i.e R=3000/500= 6% answer.

Johny said: (Thu, Apr 25, 2013 06:09:11 PM)    
 
Why should we subtract 15500 from 12500?

Rajesh said: (Fri, May 17, 2013 09:14:04 PM)    
 
We have a 12500 amount & after 4 year, we get 15500 amount so total.

Profit amount or S.I in 4 Year is 3000.

Now use the Formula:.

S.I = (P*R*T) /100.

Hemant said: (Wed, Jun 26, 2013 07:11:40 PM)    
 
A boy saves Rs.4.65 daily. Find the least number of days in which he will be able to save an exact number of rupees.

Can anyone get me answer for this ?

Its 20 days.

Jyothi said: (Wed, Jul 10, 2013 12:17:35 AM)    
 
In question I unable to identify which is amount and which is principal please help me. What is the difference b/w amount and principal?

Suvarna said: (Wed, Jul 24, 2013 09:18:40 PM)    
 
6% interest amount for 12500 is 12500/100 *6 =750.

It is for 4 years thats why 12500+750+750+750+750 = 15500.

Arif said: (Wed, Oct 30, 2013 10:48:19 AM)    
 
Simple interest = 15, 500-12, 500 = 3000.

So we compare with options which is given:

Simple interest = P*t*r/100;
3000 = 12500*4*?/100;
3000 = 125*4*3.
3000 = 1500 //not equal,then multiply by 2.
3000 = 1500*2.
3000 = 3000.

It means first we take 3% of rate we get 1500 simple interest ,then multiply by 2 means that multiply by 2 with 3% of rate that is 6%.

So, the answer is 6%.

Gyanendra Parihar said: (Fri, Nov 8, 2013 04:22:45 PM)    
 
Total amount after 4 year is 15500 and before including interest amount is 12500 thus it is clear the interest is.

15500-12500 = 3000.

If 3000 is 4 year interest than what should be one year interest.
3000/4 = 750.

Now,
12500 is 100 percent than 750 is how many percent of 12500.

(750X12500) /100 = 6%.

Sana said: (Mon, Jan 13, 2014 02:22:54 PM)    
 
Why subtraction take place? principle & amount is equal?

Nikhil said: (Sun, Sep 28, 2014 08:54:19 PM)    
 
Hi. Why we took 12500 as principal?

Junaid said: (Sat, Dec 6, 2014 01:29:23 PM)    
 
By using the formula:

I = P R T/100.

I = 15, 500-12, 500 = 3000.

3000 = 12, 500*R*4/100.

3000*100 = 12, 500*4 R.

300000 = 50000 R.

R = 300000/50000.

R = 6%.

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