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  • Question

  • The total simple interest earned on a sum of money increases by Rs. 600 when the rate of interest increases by 2% per annum. If the investment was made for 5 years, find the sum of money that was invested ?


  • Options
  • A. Rs. 6000
  • B. Rs. 5550
  • C. Rs. 7500
  • D. Rs. 6580

  • Correct Answer
  • Rs. 6000 

    Explanation

    Let the sum invested be Rs. P

    Let the rate of interest be R% per annum

    => Interest earned for 5 years = (P x 5 x R/100) = PR/20

    Now, given that the interest earned increased by Rs. 600 if the Rate increased to (R+2)%

    => SI = (P x 5 x (R+2))/100 = PR/20 + 10P/100

    Hence,

    PR/20 + 10P/100 = PR/20 + 600

    => P = 6000

    Therefore, the sum invested is Rs. 6000

    • Tags: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO

    Simple Interest problems

    Search Results

    • 1. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

    • Options
    • A. 5%
    • B. 8%
    • C. 12%
    • D. 15%
      • Discuss
    • 2. 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
      • Discuss
    • 3. 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%
      • Discuss
    • 4. Find: S.l. on Rs 3000 at 18% per annum for the period from 4th

    • Options
    • A. 118
    • B. 105
    • C. 108
    • D. 110
      • Discuss
    • 5. 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
      • Discuss
    • 6. Gopal borrowed some money at 12% simple interest. If he had to pay back Rs. 1280 after 5 years, in order to clear off the loan. How much did he borrow?

    • Options
    • A. Rs. 800
    • B. Rs. 620
    • C. Rs. 560
    • D. Rs. 480
      • Discuss
    • 7. 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

    • Options
    • A. 3%
    • B. 4%
    • C. 5%
    • D. 6%
      • Discuss
    • 8. The interest on a certain deposit at 4.5% p.a. is Rs. 202.50 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a. ?

    • Options
    • A. Rs. 22.5
    • B. Rs. 2.5
    • C. Rs. 202
    • D. Rs. 25
      • Discuss
    • 9. Ronika deposited Rs.7000 which amounted to Rs.9200 after 3 years at simple interest. Had the interest been 2% more. She would get how much ?

    • Options
    • A. 9850
    • B. 9500
    • C. 9620
    • D. 9760
      • Discuss
    • 10. A man invested an amount at the rate of 10% p.a. on compound interest and after two years he again invested half of the initial amount. If man got Rs. 457.2 Rs. as interest after three years, find the amount received by man after three years, if he invested same amount on simple interest at rate of 15% p.a.?

    • Options
    • A. 1740 Rs.
    • B. 1760 Rs.
    • C. 1720 Rs.
    • D. 1780 Rs.
      • Discuss

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