On Rs. 3500 invested at a simple interest rate of 7 per cent per annum, Rs. 500

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Question
On Rs. 3500 invested at a simple interest rate of 7 per cent per annum, Rs. 500 is obtained as interest in certain years. In order to earn Rs. 800 as interest on Rs. 4900 in the same number of years, what should be the rate of simple interest?
Options
A. 8%
B. 7.5%
C. 9%
D. 8.5%

Correct Answer

8%

Explanation

From the given data,

3500x7xt/100 = 500

=> t = 100/49 years

Now, in the second case

The interest per year = 49/100 x 800 = 392

=> 4900 x 1 x r/100 = 392

=> r = 8%

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Simple Interest problems

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1. A sum of money invested for a certain number of years at 8% p.a. simple interest grows to Rs.180. The same sum of money invested for the same number of years at 4% p.a. simple interest grows to Rs.120 only. For how many years was the sum invested?
Options
A. 25years
B. 15years
C. 20years
D. 22years

2. Manu invested an amount of Rs. 14800 at the rate of 7% per annum. After how many years will she obtain a simple interest of Rs.15800?
Options
A. 16.75 yrs
B. 15.25 yrs
C. 14 yrs
D. 13.5 yrs

3. A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is ?
Options
A. 45/7 %
B. 50/9 %
C. 51/7 %
D. 47/ 9 %

4. Rs.1500 is divided into two parts such that if one part is invested at 6% and the other at 5% the whole annual interest from both the sum is Rs.85. How much was lent at 5% ?
Options
A. Rs. 500
B. Rs. 245
C. Rs. 1250
D. Rs. 635

5. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
Options
A. 1:3
B. 1:4
C. 2:3
D. data is inadequate

6. A Rent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:
Options
A. 5%
B. 7%
C. 7.5%
D. 10%

7. What is the principal sum? I. The sum amounts to Rs. 690 in 3 years at S.I. II. The sum amounts to Rs. 750 in 5 years at S.I. III. The rate of interest is 5% p.a.
Options
A. I and III only
B. II and III only
C. I and II only
D. Any two of the three

8. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
Options
A. 3.5 years
B. 4 years
C. 4.5 years
D. 5 years

9. If the rate increases by 2%, the simple interest received on a sum of money increases by Rs. 108. If the time period is increased by 2 years, the simple interest on the same sum increases by Rs.180. The sum is ?
Options
A. Rs. 540
B. Rs. 415
C. Rs. 404
D. Data is not sufficient

10. If J is the interest on K and K is the interest on L, the rate and time is the same on both the cases. What is the relation between J, K and L ?
Options
A. J x J = KL
B. K x K= JL
C. L x L = JK
D. JKL = 1

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