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- Question
- The annual payment of ? 160 in 5 yr at 5 % per annum simple interest will discharge a debt of
Options- A. ? 980
- B. ? 880
- C. ? 440
- D. ? 220
- Correct Answer
- ? 880
ExplanationGiven, annual payment = ? 160
R = 5% T = 5 yr debt (p) = ?
According to the formula.
Annual payment = 100P / [100 x T + {RT (T - 1)/2}]
?160 = 100P / [5 x 100 + {(5 x 4 x 5)/2}]
? 160 = 100P/550
? P = (550 x 160) / 100
= 55 x 16 = ? 880 - 1. A sum was lent out for a certain time. The sum amounts to ? 400 at 10% annual interest rate. When the sum was lent out at 4% annual interest rate,it amounts to ? 200. Find the sum.
Options- A. ? 200/3
- B. ? 100
- C. ? 400/3
- D. ? 500/3 Discuss
- 2. The simple interest on a certain sum of money for 2 1/ 2 yr at 12% per annum is ? 20 less than the simple interest on the same sum for 3 1/ 2 yr at 10% per annum. Find the sum.
Options- A. ? 800
- B. ? 750
- C. ? 625
- D. ? 400 Discuss
- 3. A certain sum becomes ? 600 in a certain time at the rate of 6% simple interest. The same sum amounts to ? 200 at the rate of 1% simple interest in the same duration. Find the sum and time.
Options- A. ? 120 and 662/3 yr
- B. ? 150 and 662/3 yr
- C. ? 130 and 662/3 yr
- D. ? 160 and 662/3 yr Discuss
- 4. A person closer his account in an investment scheme by withdrawing ? 10000. One year ago, he had withdraw ? 6000. Two years ago, he had withdrawn ? 5000. Three years ago, he had not withdrawn any money. How much money had he deposited approximately at the time of opening the account 4 yr ago, if the annual simple interest is 10%?
Options- A. ? 15600
- B. ? 16500
- C. ? 17280
- D. None of these Discuss
- 5. A borrowed ? 4800 from B at 9% per annum simple interest for 3 yr. He, then added some more money to the borrowed sum and lent it to C for the same period at 12% per annum simple interest. If A gains ? 720 in the whole transaction, how much money did he add from his side?
Options- A. ? 500
- B. ? 740
- C. ? 640
- D. ? 800 Discuss
- 6. What annual payment will discharge a debt of ? 1092 due in 2 yr at 12% simple interest?
Options- A. ? 725
- B. ? 325
- C. ? 515
- D. ? 900 Discuss
- 7. What annual payment will discharge a debt of ? 1696 in yr at 4% per annum?
Options- A. ? 525
- B. ? 425
- C. ? 325
- D. ? 400 Discuss
- 8. Harsha makes a fixed deposit of ? 20000 in Bank of India for a period of 3 yr. If the rate of interest be 13% SI per annum charged half - yearly, what amount will he get after 42 months?
Options- A. ? 27800
- B. ? 28100
- C. ? 29100
- D. ? 30000 Discuss
- 9. A certain sum at simple interest amount to ? 1350 in 5 yr and to ? 1620 in 8 yr what is the sum?
Options- A. ? 700
- B. ? 800
- C. ? 900
- D. ? 1000 Discuss
- 10. In 4 yr. ? 6000 amounts to ? 8000. In what time at the same rate, will ? 525 amount to ? 700?
Options- A. 2 yr
- B. 3 yr
- C. 4 yr
- D. 5 yr Discuss
Simple Interest problems
Search Results
Correct Answer: ? 200/3
Explanation:
According to the question,
[P + (P x R x T)/100] - [P + (P x 4 x T)/100] = 400 - 200
? (6 x PT) / 100 = 200
? PT = (200 x 100)/6 = 10000/3
Again, for 10% rate,
SI= (P x 10 x T)/100 = (10000/3) x (10/100) = 1000/3
? Sum(P) = 400 - (1000/3) = (1200 - 1000/3
= ? 200/3
Correct Answer: ? 400
Explanation:
Given, T1 = 5/2, R1= 12% T2= 7/2 yr and R2 = 10%
Let the sum be P.
Then, [(P x 10 x 7)/(100 x 2)] - [(P x 12 x 5)/(100 x 2)] = 20
? (7P/20) - (3P/10) = 20
? P = 20 x 20 = ? 400
Correct Answer: ? 120 and 662/3 yr
Explanation:
According to the question.
([P + (P x 6 x T)/100] - [P + (P x 1 x T)/100] = 600 - 200
? 5PT/100 = 400
? PT = 8000
Again, for 6% rate,
SI = PTR/100 = (8000 x 6)/100 = ? 480
? Sum = 600 - 480 = ? 120
As we have, PT = 8000
? T = 8000/120 = 200/3 = 662/3 yr
Correct Answer: None of these
Explanation:
Suppose the person had deposited ? P at the time of opening the account .
? After one year he had P + (P x 10 x 1)/100 = ? 11P/10
After two years, he had
11P/10 + (11P/10 x 10 x 1)/100 = ? 121P/100 ...(i)
After withdrawn ? 5000 from ? 121P/100, the balance
= ? (121P - 500000)/100
After 3 yr, he had
(121P - 500000)/100 + [(121P - 500000)/100 x 10 x 1]/100
= 11(121P - 500000)/100 ... (ii)
After withdrawn ? 6000 from amount (ii) the balance
= (1331P/1000 - 11500)
? After 4 yr, he had ? (1331P - 5500000)/1000 + 10% of ? (1331P - 5500000)/1000
= ? (11/10) x (1331P/1000 - 11500) ... (iii)
After withdrawn ? 10000 from amount (iii) the balance =0
? 11/10(1331P/1000 - 11500) - 10000 = 0
? P = ? 15470
Correct Answer: ? 800
Explanation:
Let the money added be ? P, Then,
[(4800 + P) x 12 x 3]/100 - (4800 x 9 x 3)/100 = 720
? (4800 + P) x 36 - (4800 x 27) = 720 x 100
? (4800 + P) x 4 - (4800 x 3) = 8000
? 4800 + P - (1200 x 3 ) = 2000
? P + 1200 = 2000
? P = 800
So, money added is ? 800.
Correct Answer: ? 515
Explanation:
According to the formula,
Annual payment = 100P / [100 x T + {RT (T - 1)/2}]
= (1092 x 100) / [100 x 2 + {24 (2 - 1)/2}]
= (1092 x 100)/2012
= ? 515.09
? ? 515
Correct Answer: ? 400
Explanation:
Given, debt (p) = ? 1696, R = 4% T = 4 yr
According to the formula,
Annual payment = 100P / [100 x T + {RT (T - 1)/2}]
= (1696 x 100) / [4 x 100 + {(4 x 3 x 4)/2}]
= (1696 x 100) / 424
= ? 400
Correct Answer: ? 29100
Explanation:
Give, time = 42 months.
= (42/12) yr = 31/2 yr
= 7 half - yr,
rate = 13/2% half - yearly
SI = (20000 x 13 x 7)/(100 x 2) = ? 9100
? Amount (A) = 20000 + 9100
= ? 29100
Correct Answer: ? 900
Explanation:
Given, A1 = ? 1350, A2 =? 1620
T1 = 5 yr and T2 = 8 yr
Let principal amount be ? P.
? In time = 8 - 5 = 3 yr
Simple interest will be
1620 - 1350 = ? 270
? R = [(A2 - A1 ) x 100] / [A1 T2 - A2 T1]
= [(1620 - 1350) x 100] / [(1350 x 8) - (1620 X 5)]
= (270 x 100)/[10800 - 8100]
= 27000/2700
? R = 10%
? P = (SI x 100) / (R x T)
= (270 x 100) / (10 x 3)
= ? 900
Correct Answer: 4 yr
Explanation:
Amount = ? 8000
Time (T) = 4 yr; Principal (P) = ? 6000
Simple interest (SI) = (A - P)
= Amount - Principal
= 8000 - 6000 = ? 2000
Rate (R) = ?
According to the formula. SI = (P x R x T)/100
? 2000 = (6000 x R x 4)
? R = (6000 x 100)/(6000 x 4) = (25/3) %
Now, again Amount (A) = ? 700
Principle (P) = ? 525, Time (T) = ?
Rate (R) = 25/3%
Simple interest = A - P
? 700 - 525 = ? 175
Using formula, SI = (P x R x T) / 100
? 175 = [525 x (25/3) x T] / 100
? T = (175 x 100 x 3) / (525 x 25)
= 4 yr
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