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- Question
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
- Correct Answer
- Data is not sufficient
ExplanationLet the sum be Rs. p, rate be R% p.a. and time be T years.
Then,
And,
Clearly, from (1) and (2), we cannot find the value of p
So, the data is not sufficient. - 1. 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 Discuss
- 2. 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 Discuss
- 3. 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% Discuss
- 4. 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% Discuss
- 5. 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 Discuss
- 6. 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 Discuss
- 7. A sum at simple interest at 1312 % per annum amounts to Rs. 2502.50 after 4 years. Find the sum
Options- A. Rs.1625
- B. Rs1525
- C. Rs.1425
- D. Rs.1325 Discuss
- 8. A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. What is the monthly instalment?
Options- A. $503
- B. $504
- C. $505
- D. %506 Discuss
- 9. On simple interest an amount becomes Rs. 812 in two years and Rs. 924 in four years. What is the rate of interest on that amount?
Options- A. 7.2%
- B. 8%
- C. 8.5%
- D. 9.3% Discuss
- 10. A sum of Rs. 2600 is invested at two different rates of interest. The difference between the simple interests got after 4 years is Rs 402.80 at these two rates, what is the difference between the rates of interest?
Options- A. 1.58
- B. 2.63
- C. 3.87
- D. 4.02 Discuss
Simple Interest problems
Search Results
Correct Answer: 4 years
Explanation:
Time = (100 x 81)/(450 x 4.5) years
= 4 years.
Correct Answer: Any two of the three
Explanation:
Clearly, any of the three will give us the answer
Correct Answer: 10%
Explanation:
Let the rate be R% p.a.
Then,
Rate = 10%
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%
Correct Answer: 25years
Explanation:
From the information provided we know that,
Principal + 8% p.a. interest on principal for n years = 180 ??.. (1)
Principal + 4% p.a. interest on principal for n years = 120 ??? (2)
Subtracting equation (2) from equation (1), we get
4% p.a. interest on principal for n years = Rs.60.
Now, we can substitute this value in equation (2),
i.e Principal + 60 = 120
= Principal = Rs.60.
We know that SI = , where p is the principal, n the number of years and r the rate percent of interest.
In equation (2), p = Rs.60, r = 4% p.a. and the simple interest = Rs.60.
Therefore, 60 =(60*n*4)/100
=> n = 100/4 = 25 years.
Correct Answer: K x K= JL
Explanation:
Let the Time be 'N' and Rate be 'R'
J = (K x NR)/100 K = (L x NR)/100
J/K = NR/100 K/L = NR/100
J/K = K/L
K x K = JL
Correct Answer: Rs.1625
Explanation:
Let sum be Rs.x then, S.I. =Rs. [ x * (27/2) * 4 * (1/100) ] = Rs. 27x/50
Amount =Rs [ x + (27x/50)] = Rs.77x/50
=> 77X/50 = 2502.50
=>X= (2502.50 * 50)/77 = 1625
Hence Sum = Rs.1625
Correct Answer: $504
Explanation:
Cash price = $21 000
Deposit = 10% × $21 000 = $2100
Loan amount = $21000 ? $2100 = $18900
I=p x r x t/100
I=11340
Total amount = 18900 + 11340 = $30240
Regular payment = total amount /number of payments
Correct Answer: 8%
Explanation:
We know,
S.I = PTR/100 where P = principal amount, T = time, R = rate of interest
Here in the given data,
Interest for two years S.I = 924 - 812 = Rs. 112
Now, Principal amount P = 812 - 112 = Rs. 700
Now,
R = S.I x 100/PT
R = 112 x 100/700 x 2
R = 11200/1400
R = 8%
Hence, the rate of interest R = 8%.
Correct Answer: 3.87
Explanation:
Let the two different rates of interests be r1 and r2 respectively.
From the given data,
Hence, the difference in the interest rates = 3.87
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