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- Question
- The difference between the interest received from two different bank on Rs. 500 for 2 year is Rs. 2.50. The difference between their rates is?
Options- A. 1%
- B. 0.5%
- C. 2.5%
- D. 0.25%
- Correct Answer
- 0.25%
ExplanationLet the rates be R1% and R2%.
Then, (500 x R1 x 2)/ 100 - (500 x R2 x 2)/ 100 = 2.5
? 10(R1 - R2) = 2.5
? Req difference = R1 - R2 = 0.25% - 1. A sum money becomes (8/5) of itself in 5 years at a certain rate of interest . The rate percent per annum is?
Options- A. 5%
- B. 8%
- C. 10%
- D. 12% Discuss
- 2. A sum was put at simple interest at a certain rate for 2 years. Had it been put at 1% higher rate, it would have fetched Rs. 24 more, The sum is?
Options- A. Rs. 600
- B. Rs. 800
- C. Rs. 1200
- D. Rs. 480 Discuss
- 3. In how many years will a sum of money double itself at 12% per annum?
Options- A. 6 years 9 months
- B. 8 years 4 months
- C. 7 years 6 months
- D. 8 years 6 months Discuss
- 4. If the interest on Rs. 1200 be more than the interest on Rs. 1000 by Rs. 50 in 3 years, the rate per cent is?
Options- A. 101/3%
- B. 62/3%
- C. 81/3%
- D. 92/3% Discuss
- 5. The simple interest on a sum of money at 8% per annum for 6 years is half the sum. The sum is?
Options- A. Rs. 4800
- B. Rs. 6000
- C. Rs. 8000
- D. Data inadequate Discuss
- 6. A certain sum of money at simple interest amounts to Rs. 1012 in 2 1/ 2 years and to Rs. 1067.20 in 4 years. The rate of interest per annum is?
Options- A. 2.5%
- B. 3%
- C. 4%
- D. 5% Discuss
- 7. Two equal amounts of money are deposited in two banks, each at 15% per annum for 3 1/ 2 years and 5 years. If the difference between their interests is Rs. 144, each sum is?
Options- A. Rs. 460
- B. Rs. 500
- C. Rs. 640
- D. Rs. 720 Discuss
- 8. If the rate of interest rises from 6 1/2 to 8% a man's annual income increases by Rs. 4050. Find the capital.
Options- A. Rs . 270000
- B. Rs . 370000
- C. Rs . 300000
- D. None of these Discuss
- 9. The simple interest on a sum of money will be Rs. 600 after 10 years. If the principal is trebled after 5 years the total interest at the end of 10 years will be?
Options- A. Rs. 600
- B. Rs. 900
- C. Rs. 1200
- D. Data inadequate Discuss
- 10. A sum of Rs. 2540 is lent out into two parts. One at 12% and another one at 12 1/ 2 %. If the total annual income is Rs. 311.60, the money lent at 12% is?
Options- A. Rs. 1180
- B. Rs. 1360
- C. Rs. 1240
- D. Rs. 1340 Discuss
Simple Interest problems
Search Results
Correct Answer: 12%
Explanation:
Let sum = Rs. P.
Then amount = Rs. (8P/5)
? S.I = Rs. (8P/5 - P ) = Rs.(3P/5)
? Required rate = (100 x SI) / (P x T)
= [(100 x 3P/5) / (P x 5)]% = 12%
Correct Answer: Rs. 1200
Explanation:
Let sum = P and original rate = R% per annum
Then, [(P x (R + 1) x 2)/100] - [(P x R x 2)/100] = 24
? P = 1200
Correct Answer: 8 years 4 months
Explanation:
Let principal = P.
Then, S.I = P,
Rate (R) = 12%
Time = (100 x SI) / (R x P) = (100 x P) / (P x 12) years
= 25/3 years
= 8 years 4 months
Correct Answer: 81/3%
Explanation:
Let rate = R% per annum. Then,
(1200 x R x 3)/100 - (1000 x R x 3)/100 = 50
? 6R = 50
? R = 81/3
? Rate = 81/3% per annum
Correct Answer: Data inadequate
Explanation:
Let, Sum = P
Then S.I = P/2
Rate = 8%
and Time = 6 years
But P/2 = (P x 8 x 6) /100 (Not possible )
Thus, data is inadequate.
Correct Answer: 4%
Explanation:
? S.I. for 3/2 years = Rs. (1067.20 - 1012) = Rs. 55.20
? S.I. for 5/2 years = Rs. 55.20 x (2/3) x (5/2) = 92
? Sum = Rs. (1012 - 92) = Rs.920
Hence, Rate = (100 x SI)/(P x T) = (100 x 92) / (920 x 5/2 ) = 4%
Correct Answer: Rs. 640
Explanation:
Let each sum be Rs. P.
Then, [(P x 15 x 5) / 100] - [(P x 15 x 7) / 100] x 2 = 144
? 3P/4 -21P/40 = 144
? 9P/40 = 144
? P = (144 x 40) / 9 =Rs. 640
Correct Answer: Rs . 270000
Explanation:
Due to the rise in the rate of interest, annual income increases by Rs . (8 - 61/ 2) = Rs , 11/ 2
Thus, the required capital = (100 x 2 x 4050) / 3 = Rs. 270000
Correct Answer: Rs. 1200
Explanation:
Let the sum be Rs. P, SI = Rs. 600, Time = 10 years
? Rate (600 x 100) / (P x 10)%
S.I for first 5 years = Rs. (P x 5 x 6000)/(1000 x P) = Rs. 300
S.I for last 5 years = Rs. (3P x 5 x 6000)/(100 x P) = Rs. 900
Hence, total interest at the end of 10 years = 300 + 900 = Rs. 1200.
Correct Answer: Rs. 1180
Explanation:
Let money lent at 12% Rs. P
Then, money lent at 121/2% = Rs. (2540 - P )
? (P x 12 x 1)/100 + {(2540 - P) x 25/2 x 1}/100 = 311.60
? 3P/25 + 2540 - P/8 = 311.60
? 24P + 25(2540 - P) = 200 x 311.60
? P = 63500 - 62320 = 1180
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