Two equal sums were lent, one at the rate of 11% per annum for five years and th

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Question
Two equal sums were lent, one at the rate of 11% per annum for five years and the other at the rate of 8% per annum for six years, both under simple interest. If the difference in interest accrued in the two cases is Rs 1008. Find the sum?
Options
A. Rs. 14,400
B. Rs. 15,600
C. Rs. 14,850
D. Rs. 15,220

Correct Answer

Rs. 14,400

Explanation

Let the required Sum = Rs.S

From the given data,

1008 = [(S x 11 x 5)/100] - [(S x 8 x 6)/100]

=> S = Rs. 14,400.

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Simple Interest problems

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1. A person lends Rs. 1540 for five years and Rs. 1800 for four years. If he gets Rs. 1788 as interest on both amounts, what is the rate of interest ?
Options
A. 14.5%
B. 11%
C. 12%
D. 10.5%

2. Manju borrows Rs.5000 for 2 years at 4% p.a. simple interest from Sudha. She immediately lends it to another person at 6 1?4% p.a for 2 years. Find her gain in the transaction per year.
Options
A. Rs. 101
B. Rs. 98.5
C. Rs. 124.3
D. Rs. 112.5

3. The simple interest on Rs. 25 for 4 months at the rate of 3 paise per rupee per month is :
Options
A. 240 paise
B. Rs. 1.40
C. Rs. 2.20
D. Rs. 3

4. A man borrowed Rs 24000 from two money lenders. For one loan, he paid 15% per annum and for the other 18% per annum. At the end of one year, he paid Rs 4050. How much did he borrow at each rate ?
Options
A. Rs.16000
B. Rs.12000
C. Rs.15000
D. Rs.13000

5. 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

6. A certain amount earns simple interest of Rs. 2260 after 3 years. Had the interest been 1 % more how much more interest would it have earned ?
Options
A. Rs. 175
B. Rs. 220.75
C. Rs. 126
D. Can't be determined

7. The simple interest on a sum of money will be Rs.600 after 10 years. If the principal is trebled after 5 years what will be the total interest at the end of the tenth year ?
Options
A. Rs. 1100
B. Rs. 1200
C. Rs. 1000
D. Rs. 1840

8. Find: S.l. on Rs 3000 at 18% per annum for the period from 4th
Options
A. 118
B. 105
C. 108
D. 110

9. Arun took a loan of Rs. 29000 with simple interest for as many years as the rate of interest. If he paid Rs. 10440 as interest at the end of the loan period, what was the rate of interest?
Options
A. 5.5%
B. 6%
C. 6.5%
D. 7%

10. A Certain sum of money an amounts to Rs 2500 in a span Of 5 years and further to Rs.3000 in a span of 7 years at simple interest The sum is ?
Options
A. Rs. 1800
B. Rs. 2000
C. Rs. 1400
D. Rs. 1250

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