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- Question
A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?
Options- A. 3.46%
- B. 4.5%
- C. 5%
- D. 6%
- Correct Answer
- 3.46%
ExplanationLet the original rate be R%. Then, new rate = (2R)%.
Note: Here, original rate is for 1 year(s); the new rate is for only 4 months i.e.1/3 year(s).
=> (2175 + 725) R = 33.50 x 100 x 3
=> (2175 + 725) R = 10050
=> (2900)R = 10050
=>
Original rate = 3.46%
- 1. At what rate of compound interest per annum will a sum of rs.1200 becomes rs.1348.32 in 2 years
Options- A. 66%%
- B. 6.5%
- C. 7%
- D. 7.5% Discuss
- 2. A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.
Options- A. Rs.4000
- B. Rs.9000
- C. Rs.5000
- D. Rs.6000 Discuss
- 3. A father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How much did the elder daughter get at the time of the will?
Options- A. 17.5 lakhs
- B. 21 lakhs
- C. 15 lakhs
- D. 20 lakhs Discuss
- 4. The difference between the simple interest received from two different sources on Rs.1500 for 3 years is Rs.13.50. The difference between their rates of interest is
Options- A. 0.1%
- B. 0.2%
- C. 0.3%
- D. 0.4% Discuss
- 5. A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
Options- A. Rs.35
- B. Rs.245
- C. Rs.350
- D. cannot be determined Discuss
- 6. A sum was put at simple interest at a certain rate for 10 years . Had it been put at 5% higher rate , it would have fetched Rs.600 more. What was the Sum?
Options- A. Rs.1200
- B. Rs.1300
- C. Rs.1400
- D. Rs.1500 Discuss
- 7. If the C.I. on a sum for 2 years at 12 1/2 % per annum is Rs. 510, the S.I. on the same sum at the same rate for the same period of time is ?
Options- A. Rs. 580
- B. Rs. 480
- C. Rs. 550
- D. Rs. 470 Discuss
- 8. A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs.100 at the end of one year. In order clear his dues at the end of 2 years, he would pay :
Options- A. Rs. 100
- B. Rs. 105
- C. Rs. 115
- D. Rs. 110 Discuss
- 9. How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?
Options- A. 65years
- B. 56years
- C. 45years
- D. 57years Discuss
- 10. In what time will Rs. 1860 amount to Rs. 2641.20 at simple interest 12% per annum?
Options- A. 2.9 years
- B. 3.5 years
- C. 4.2 years
- D. 4.7 years Discuss
Simple Interest problems
Search Results
Correct Answer: 66%%
Explanation:
rate=r%
1200 (1+r/100)^2=1348.32
r=6%
Correct Answer: Rs.6000
Explanation:
Let sum = P and original rate = R. Then
[(P * (R+2) * 3)/100] - [ (P * R * 3)/100] = 360
3P*(R+2) - 3PR = 36000
3PR + 6P - 3PR = 36000
6P = 36000
P = 6000
Correct Answer: 21 lakhs
Explanation:
Let Rs.x be the amount that the elder daughter got at the time of the will. Therefore, the younger daughter got (3,500,000 - x).
The elder daughter?s money earns interest for (21 - 16) = 5 years @ 10% p.a simple interest.
The younger daughter?s money earns interest for (21 - 8.5) = 12.5 years @ 10% p.a simple interest.
As the sum of money that each of the daughters get when they are 21 is the same,
=>
Correct Answer: 0.3%
Explanation:
(1500 x R1 x 3)/100
=> 4500 (R1-R2) = 1350
=> (R1-R2)= 1350/4500 = 0.3 %
Correct Answer: cannot be determined
Explanation:
We need to know the S.I, principal and time to find the rate. Since the principal is not given, so data is inadequate.
Correct Answer: Rs.1200
Explanation:
At 5% more rate, the increase in S.I for 10 years = Rs.600 (given)
So, at 5% more rate, the increase in SI for 1 year = 600/10 = Rs.60/-
i.e. Rs.60 is 5% of the invested sum
So, 1% of the invested sum = 60/5
Therefore, the invested sum = 60 × 100/5 = Rs.1200
Correct Answer: Rs. 480
Explanation:
Let the sum be Rs. P. Then,
= 510
P[ - 1] = 510.
Sum = Rs. 1920
So, S.I. = (1920 x 25 x 2) / (2 x 100) = Rs. 480
Correct Answer: Rs. 115
Explanation:
Amount to be paid = = Rs. 115.
Correct Answer: 56years
Explanation:
Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the numberof years for which it is invested, r is the rate of interest per annum
In this case, Rs. 1250 has become Rs.10,000.
Therefore, the interest earned = 10,000 ? 1250 = 8750.
8750 = [(1250 x n x 12.5)/100]
=> n = 700 / 12.5 = 56 years.
Correct Answer: 3.5 years
Explanation:
Given that Rs. 1860 will become Rs. 2641.20 at 12%
=> Simple Interest = 2641.20 - 1860 = Rs. 781.20
We know I = PTR/100
=> 781.20 x 100 = 1860 x T x 12
=> T = 78120/1860x12
=> T = 78120/22320
=> T = 3.5 years.
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