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- Question
An automobile financier claims to be lending money at S.I., but he includes the interest every six months for calculating the principal. If he is charging an interest of 8%, the effective rate of interest becomes ?
Options- A. 10.25 %
- B. 8.16 %
- C. 9.63 %
- D. 0.16 %
- Correct Answer
- 8.16 %
ExplanationLet the sum be Rs. 100. Then,
S.I. for first 6 months = (100 x 8 x 1) / (100 x 2) = Rs. 4
S.I. for last 6 months = (104 x 8 x 1) / (100 x 2) = Rs. 4.16
So, amount at the end of 1 year = (100 + 4 + 4.16) = Rs. 108.16
Effective rate = (108.16 - 100) = 8.16%. - 1. A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum ?
Options- A. Rs. 5858
- B. Rs. 8800
- C. Rs. 7000
- D. Rs. 6350 Discuss
- 2. If rupee two produces rupees eleven over a period of 30 years, find the rate of simple interest ?
Options- A. 17.25 %
- B. 18.14 %
- C. 18.33 %
- D. 17.35 % Discuss
- 3. What will be the ratio of simple interest earned by certain amount at the same rate of interestfor 4 years and 6 years ?
Options- A. 1:2
- B. 2:1
- C. 2:3
- D. 3:2 Discuss
- 4. 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
- 5. 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
- 6. A sum of money at simple interest amounts to Rs. 415 in 2 years and to Rs. 514 in 4 years. The sum is ?
Options- A. Rs. 316
- B. Rs. 251
- C. Rs. 154
- D. Rs. 294 Discuss
- 7. Avinash gave a sum of 5400 at the simple rate of interest of 8% to Rajeev for 4 years and Rajeev gave this amount to Chanukya at the rate of 6% for 4 years. Find how much extra amount has to be paid by Rajeev to Avinash after 4 years?
Options- A. Rs. 364
- B. Rs. 432
- C. Rs. 498
- D. Rs. 554 Discuss
- 8. The simple interest on Rs.10 for 4 months at the rate of 3 paise per month is
Options- A. 0.3 Paise
- B. 1.2 Paise
- C. 30 Paise
- D. 3 Paise Discuss
- 9. A certain sum of money becomes double of itself in 15 years at a rate of simple interest. In how many years will it become 5 times of itself at the same rate of simple interest
Options- A. 45
- B. 37.5
- C. 75
- D. 60 Discuss
- 10. A certain sum of money triples itself in 5 years at simple interest. In how many years it will be five times?
Options- A. 5
- B. 8
- C. 10
- D. 15 Discuss
Simple Interest problems
Search Results
Correct Answer: Rs. 7000
Explanation:
Let the sum be Rs. S.
(S x 18 x 2)/100 - (S x 12 x 2)/100 = 840 => 36S/100 - 24S/100 = 840
=> 12S/100 = 840 => S = 7000.
Correct Answer: 18.33 %
Explanation:
We know that I = PTR/100
11 = (2x30xR)/100
R = 18.333 %
Correct Answer: 2:3
Explanation:
Let p be the principle amount
And R% be the rate of interest
Then, required ratio =
= 2:3
Correct Answer: 3750
Explanation:
S.I=PNR/100
Correct Answer: 240%
Explanation:
r=I/PT
Correct Answer: Rs. 316
Explanation:
S.I. for 2 years = (514 - 415) = Rs. 99
S.I. for 1 year = 99/2
Principal = (415 - 99) = Rs. 316.
Correct Answer: Rs. 432
Explanation:
Here Avinash gave to Rajeev and Rajeev gave the same to Chanukya
Principal amount and Time is same but the only difference is Rate of interest.
Rajeev took @ 8% and gave it to Chanukya @ 6%
Here the difference in interest rate = 2%
2% of 5400 should be the extra amount paid by Rajeev to Avinash
Required amount =
Hence, Rs. 432 is the extra amount has to be paid by Rajeev to Avinash after 4 years.
Correct Answer: 1.2 Paise
Explanation:
Given Principal amount P = Rs. 10
Time T = 4 months
Rate of interest R = 3 ps
Interest I = PTR/100 = (10 x 4 x 3)/100 = 12/10 = 1.2 paise.
Correct Answer: 60
Correct Answer: 10
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