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Home Aptitude Simple Interest Comments

  • Question
  • 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

  • Correct Answer


  • Explanation

    Let rate = R% and time = R years.

     

    Then,  1200 × R × R 100 = 432

      12 R 2 = 432

     

    => R = 6.

  • Tags: GRE, Bank PO

    Simple Interest problems


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    • 1. 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%
    • Discuss
    • 2. 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
    • Discuss
    • 3. A certain sum of money amounts to Rs 918 in 2 years and Rs 969 in 3.5 years at simple interest. What is the rate of interest (in %)?

    • Options
    • A. 4
    • B. 5
    • C. 6
    • D. 8
    • Discuss
    • 4. 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
    • Discuss
    • 5. Deksha borrowed Rs. 500 at 5% per annum S.I. What amount (in Rs.) will she pay to clear her debt after 4 years?

    • Options
    • A. 150
    • B. 650
    • C. 600
    • D. 100
    • Discuss
    • 6. 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
    • Discuss
    • 7. When $720 is invested for 36 months it earns $205.20 simple interest. Find the yearly interest rate.

    • Options
    • A. 7.5%
    • B. 8.5%
    • C. 9.5%
    • D. 10.5%
    • Discuss
    • 8. A loan of $15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due and what is the amount repaid if the loan is due in seven months

    • Options
    • A. 15612.50
    • B. 14612.50
    • C. 13612.50
    • D. 17612.50
    • Discuss
    • 9. A loan shark made a loan of $100 to be repaid with $120 at the end of one month. What was the annual interest rate?

    • Options
    • A. 210%
    • B. 220%
    • C. 230%
    • D. 240%
    • Discuss
    • 10. What is the SI on Rs.7500/- at the rate of 10% per annum for 5 years?

    • Options
    • A. 3750
    • B. 2750
    • C. 1750
    • D. 750
    • Discuss


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