The amount of simple interest accrued on an amount of Rs 28,500 in seven years i

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Question
The amount of simple interest accrued on an amount of Rs 28,500 in seven years is Rs 23,940 What is the rate of interest p.c.p.a ?
Options
A. 10.5
B. 12.5
C. 11
D. 12

Correct Answer

12

Explanation

Simple Interest = S.I= pnr/100 Given, S.I = 23940 , p = 28500 , n = 7 thus, r = 100x23940/28500x7 = 12

Simple Interest problems

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2. A sum of money was invested at the rate of 7.5% S.I. per annum for 4 years. If the investment was for 5 years, the interest earned would have been Rs. 375 more. What was the initial sum invested?
Options
A. Rs. 4750
B. Rs. 5000
C. Rs. 4500
D. Rs. 3750

3. At what rate percent on simple interest will Rs.415 amount to Rs.514 in 4 years ?
Options
A. 4.58 %
B. 5.96 %
C. 6.52 %
D. 4.98 %

4. A lady took loan from a bank at the rate of 12% p.a. simple interest. After 3 years she had to pay Rs. 5400 interest only for the period. The principal amount borrowed by her was :
Options
A. Rs. 15,000
B. Rs. 1,50,000
C. Rs. 1500
D. Rs. 1,62,000

5. A person got Rs.48 more when he invested a certain sum at compound interest instead of simple interest for two years at 8% p.a. Find the sum ?
Options
A. Rs.8000
B. Rs.6500
C. Rs.7500
D. Rs.5000

7. Deepinder lent Rs 8200 to Jairaj for 16 years and Rs 4900 to Karna for 15 years on simple interest at the same rate of interest and received Rs 19446.5 in all from both of them as interest. The rate of interest per annum is:
Options
A. 10 percent
B. 10.5 percent
C. 9.5 percent
D. 11 percent

8. A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500 for 4 years to the other person at the same rate of simple interest. If altogether he receives Rs. 160 as interest, what is the rate of interest per annum ?
Options
A. 5%
B. 7%
C. 9%
D. 10%

9. Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of Interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
Options
A. 3.6
B. 6
C. 18
D. cannot be determined

10. Jan invested $210 with a building society in a fixed deposit account that paid 8% p.a. simple interest for 18 months. How much did she receive after the 18 months?
Options
A. 434
B. 345
C. 235.20
D. 233.20

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