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Home Aptitude Simple Interest Comments

  • Question
  • Ravi invested Rs.P in a scheme A offering simple interest at 10% p.a. for two years. He invested the whole amount he received from scheme A, in another scheme (B) offering simple interest at 12% p.a. for five years. If the difference between the interests earned from schemes A and B was Rs. 13,00/, what is the value of P ?


  • Options
  • A. 2500
  • B. 2000
  • C. 3000
  • D. 3500

  • Correct Answer
  • 2500 

    Explanation

    It is given that the initial amount invested in scheme A is Rs P at 10%per Annum S.I. =PTR/100 = P x 10 x 2/100 Now the total amount after 2 years is = 1.2P New Rate of interest = 12% per annum Time = 5 years S.I for next 5 years when new principal amount is 1.2 P = 1.2Px12x5/100 = 0.72P Total amount after 5 years at 12% per annun = 1.72P Given that 1.72P - 1.2P = 1300 P = 1300/0.52 P = Rs. 2500


  • Simple Interest problems


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    • 1. Simple interest on a sum for eight months at 6% per annum is Rs 340.What is the value (in Rs) of sum?

    • Options
    • A. 8500
    • B. 9500
    • C. 8000
    • D. 6800
    • Discuss
    • 2. A man borrowed some money from a private organisation at 5% simple interest per annum. He lended this money to another person at 10% compound interest per annum, and made a profit of 26,410 in 4 years. The man borrowed

    • Options
    • A. 200000
    • B. 150000
    • C. 132050
    • D. 100000
    • Discuss
    • 3. Ankita borrows Rs. 7000 at simple Interest from a lender. Atthe end of 3 years, she again borrows Rs. 3000 and settledthat amount after paying Rs. 4615 as interest after 8 years from the time she made the first borrowing. What is the rate of interest?

    • Options
    • A. 5.5%
    • B. 9.5%
    • C. 7.5%
    • D. 6.5%
    • Discuss
    • 4. Both S.I. and C.I. is calculated with a similar rate of 10% per annum on a sum of rupees. If C.I. is calculated yearly for two years, then for what period must S.I. be evaluated such that S.I. = C.I.?

    • Options
    • A. 4.2 years
    • B. 2.1 years
    • C. 1.1 years
    • D. 1.4 years
    • Discuss
    • 5. A sum of Rs 1200 amounts to Rs 1740 in 3 years at simple interest. If rate of interest is increased by 3%, then what will be the new amount (in Rs)?

    • Options
    • A. 1848
    • B. 1946
    • C. 1812
    • D. 1924
    • Discuss
    • 6. The difference between the interests earned when Rs. P is invested for four years in a scheme offering 9% p.a. Simple interest and when the same sum (Rs P) is invested for two years in another scheme offering 12% p.a. simple interest, is Rs 480. What is the value of P?

    • Options
    • A. 2000
    • B. 3500
    • C. 2500
    • D. 4000
    • Discuss
    • 7. Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 16000 for 2 years at 10% per annum. The sum placed on simple interest is:

    • Options
    • A. Rs 14000
    • B. Rs 3500
    • C. Rs 7000
    • D. Rs 5600
    • Discuss
    • 8. The Simple Interest(SI) for 16 years on an amount at particular rate is Rs 10000. If the principal is doubled at an interval of every 4 years and the rate is tripled at every such in terval, find the new Simple Interest(SI)

    • Options
    • A. 632100
    • B. 689620
    • C. 602260
    • D. 647500
    • Discuss
    • 9. The difference of compound interest and simple interest for 3 years and for 2 years are in ratio 23 : 7 respectively. What is rate of interest per annum (in %)?

    • Options
    • A. 200/7
    • B. 100/7
    • C. 300/7
    • D. 400/7
    • Discuss
    • 10. A person lent Rs 10000 to B for 3 years and Rs 6000 to C for 4 years on simple interest at same rate of interest and received Rs 5400 in all from both of them as interest. What is the rate of interest (in %)?

    • Options
    • A. 10
    • B. 12
    • C. 20
    • D. 25
    • Discuss


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