Simple Interest problems
- 1. Rs. 750 invested for 3 months gave an interest of Rs. 18. What was the simple rate of interest per annum?
Options- A. 9.6%
- B. 2.4%
- C. 7.2%
- D. 12% Also asked in: Bank Exams
Correct Answer: 9.6%
- 2. A sum of Rs 15200 is divided into two parts. The simple interest on first part at the rate of 25% per annum is equal to the simple interest on second part at the rate of 13% per annum. What is the interest (in Rs) of each part?
Options- A. 2500
- B. 1300
- C. 3250
- D. 1625 Also asked in: Bank Exams
Correct Answer: 1300
- 4. 1. The simple interest on a sum of money is Rs. 50. What is the sum? I. The interest rate is 10% p.a. II. The sum earned simple interest in 10 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 Also asked in: GRE
Correct Answer: Both I and II are necessary to answer
Explanation:
Given : S.I. = Rs. 50.
I gives, R = 10% p.a.
II gives, T = 10 years.
Sum = (100 x S.I)/(t x r ) = Rs.(100 x 50)/(10 x 10) = Rs.50
- 5. Find the simple interest charged on borrowing $325 for 5 years at 3% p.a. (per annum or per year) interest.
Options- A. 59
- B. 46
- C. 48.75
- D. 34.75 Also asked in: Bank Exams, Bank PO
Correct Answer: 48.75
Explanation:
I=
- 6. You put $750 into a certificate of deposit. Your simple annual interest rate is 4%. You receive a check for the interest at the end of each year. How long will it take to earn $150 in interest?
Options- A. 5years
- B. 6years
- C. 7years
- D. 8years Also asked in: Bank Exams, Bank PO
Correct Answer: 5years
Explanation:
I=prt
- 7. On retirement, a woman gets Rs. 1,45,440 of her provident fund which she invests in a scheme at 20% per annum. Her monthly income from this scheme will be
Options- A. Rs. 2550
- B. Rs. 2424
- C. Rs. 2224
- D. Rs. 2380 Also asked in: AIEEE, Bank Exams, CAT, GATE, Analyst, Bank Clerk, Bank PO, IT Trainer
Correct Answer: Rs. 2424
Explanation:
Now, the principal amount P = Rs. 1,45,440
Rate of interest R = 20%/annum
Now monthly income I = PTR/100 = 1,45,440 x 20 x 1/100 x 12
= 2908800/1200
= Rs. 2424.
Hence, her monthly income = Rs. 2424.
- 8. Praveena 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. 6
- B. 7
- C. 9
- D. 11 Also asked in: GATE, CAT, Bank Exams, AIEEE, Bank PO, Bank Clerk
Correct Answer: 6
Explanation:
Let rate = R% and time = R years.
Then, (1200 x R x R) / 100 = 432
=> R = 6.
- 9. Lasya invested certain amount for two rates of simple interests at 5% p.a. and 4% p.a. What is the ratio of Lasya's investments if the interests from those investments are equal ?
Options- A. 4 : 5
- B. 5 : 4
- C. 7 : 6
- D. 6 : 7 Also asked in: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO
Correct Answer: 4 : 5
Explanation:
Let x be the investment of Lasya in 5% and y be in 4%
x(5)(n)/100 = y(4)(n)/100
=> x/y = 4/5
x : y = 4 : 5
- 10. 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 Also asked in: GATE, CAT, Bank Exams, AIEEE, Bank PO, Bank Clerk
Correct Answer: Rs.7500
Explanation:
Where d is difference, r is rate of interest.
=> (48 x 100 x 100) / 8 x 8 = Rs.7500
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