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- Question
In 2 years at simple interest the principal increases by 8%. What will be the compound interest earned (in Rs) on Rs 10 lakhs in 2 years at the same rate?
Options- A. 86000
- B. 81600
- C. 90000
- D. 94000
- Correct Answer
- 81600
- 1. The simple and compound interest that can be earned in two years at the same rate is Rs 4000 and Rs 4180 respectively. What is the rate (percent per annum) of interest?
Options- A. 18
- B. 4.5
- C. 9
- D. 12 Discuss
- 2. If a sum of money doubles itself in 8 yrs, then the interest rate in percentage is ?
Options- A. 8 1?2%
- B. 10%
- C. 10 1?2 %
- D. 12 1?2 % Discuss
- 3. Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10:3 at 6% simple interest per annum?
Options- A. 7 years
- B. 3 years
- C. 5 years
- D. 4 years Discuss
- 4. A sum of Rs. 1200 is lent to be paid back in 5 equal annual installments of Rs. 264 each. The rate of interest per annum is
Options- A. 6%
- B. 8%
- C. 2%
- D. 4% Discuss
- 5. An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding). The sum of interest obtained after 2 years from both the schemes is Rs 2961. If both schemes have 23% per annum interest rate, then what is the first year interest (in Rs)of simple interest scheme?
Options- A. 500
- B. 1100
- C. 700
- D. 900 Discuss
- 6. What is the rate of interest (in %) if simple interest earned on a certain sum for the 3 years is Rs 6,000 and compound interest earned for 2 years is Rs 4,160?
Options- A. 9
- B. 8
- C. 12
- D. 6 Discuss
- 7. What is the rate of interest if simple interest earned on a certain sum for the 3rd year is Rs 1,750 and compound interest earned for 2 years is Rs 3622.5?
Options- A. 8
- B. 9
- C. 10
- D. 7 Discuss
- 8. Simple interest on a certain sum of money for 3 years at 14% per annum is half the compound interest on Rs. 10000 for 2 years at 10% per annum. The sum placed on simple interest is
Options- A. Rs 5000
- B. Rs 1250
- C. Rs 2000
- D. Rs 2500 Discuss
- 9. You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate
Options- A. 6%
- B. 5%
- C. 7%
- D. 8% Discuss
- 10. What is the sum which earned interest? I. The total simple interest was Rs. 7000 after 7 years. II. The total of sum and simple interest was double of the sum after 5 years.
Options- A. I alone sufficient while II alone not sufficient to answer
- B. II alone sufficient while I alone not sufficient to answer
- C. Either I or II alone sufficient to answer
- D. Both I and II are necessary to answer Discuss
Simple Interest problems
Search Results
Correct Answer: 9
Correct Answer: 12 1?2 %
Correct Answer: 5 years
Correct Answer: 2%
Correct Answer: 700
Correct Answer: 8
Correct Answer: 7
Correct Answer: Rs 2500
Correct Answer: 6%
Explanation:
1. To find the interest, subtract the principal from the balance.
$618 - $600 = $18
2.Use the simple interest formula and solve for r.
I = Prt
18= 600 x r x (1/2)
r= 0.06 =6%
Correct Answer: Both I and II are necessary to answer
Explanation:
Let the sum be Rs. x.
I gives, S.I. = Rs. 7000 and T = 7 years.
II gives, Sum + S.I. for 5 years = 2 x Sum Sum = S.I. for 5 years.
Now, S.I. for 7 years = Rs. 7000.
therefore, S.I. for 1 year = Rs. 1000.
Thus, I and II both are needed to get the answer.
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