Simple Interest problems
- 1. 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 Also asked in: GATE, CAT, Bank Exams, AIEEE, IT Trainer, Database Administrator, Bank PO, Bank Clerk, Analyst
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.
- 2. 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
Correct Answer: 60
- 3. 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 Also asked in: AIEEE, Bank Exams, CAT
Correct Answer: 10
- 4. The simple interest on Rs. 2000 for 2 years at Rs. 75 per thousand per annum will be
Options- A. Rs.150
- B. Rs.300
- C. Rs.600
- D. Rs.400 Also asked in: Bank Exams
Correct Answer: Rs.300
- 5. A sum of Rs. 10,000 is lent partly at 6% and the remaining at 10% p.a. If the yearly interest on the average is 9.2%, the money lent at 10% is:-
Options- A. Rs. 8000
- B. Rs. 8500
- C. Rs. 5000
- D. Rs. 2000 Also asked in: Bank Exams
Correct Answer: Rs. 8000
Explanation:
Let the amount at 6% be x
Amount at 10% be (10000 ?x)
At 9.2 % interest, SI = 10000 X 9.2 X 1/100 = 920
Amount = 10920
? 6x/100 + (10000 ? x)10/100 = 920
? 6x ? 10x + 100000 = 92000
? 4x = 8000
? x = 2000
Money lent at 10 % = 10000 ? 2000 = 8000
- 6. A sum becomes Rs 1392 in 2 years and Rs 1488 in 3 years at simple interest. What is the rate (in percentage) of interest per annum?
Options- A. 8
- B. 10
- C. 12
- D. 8.5 Also asked in: Bank Exams
Correct Answer: 8
- 7. On a certain Principal if the Simple interest for two years is Rs 4800 and Compound interest for the two years is Rs 5088, what is the rate of Interest?
Options- A. 6 percent
- B. 24 percent
- C. 12 percent
- D. 18 percent Also asked in: Bank Exams
Correct Answer: 12 percent
- 8. A sum of Rs 2000 becomes Rs 3645 in 2 years at a certain rate of compound interest. What will be the sum (in Rs) after 4 years?
Options- A. 5942.125
- B. 6643.0125
- C. 7243.0125
- D. 7498.125 Also asked in: Bank Exams
Correct Answer: 6643.0125
- 9. If in 3 years at simple interest the principal increases by 18%, what will be the compound interest (in Rs) earned on Rs. 25,000 in 3 years at the same rate?
Options- A. 4775.4
- B. 5774.4
- C. 4557.4
- D. 5575.4 Also asked in: Bank Exams
Correct Answer: 4775.4
- 10. Dalajit lent Rs 10800 to Jaabir for 3 years and Rs 7500 to Kabir for 2 years on simple interest at the same rate of interest and received Rs 1422 in all from both of them as interest. The rate of interest per annum is
Options- A. 3.5 percent
- B. 4 percent
- C. 3 percent
- D. 4.5 percent Also asked in: Bank Exams
Correct Answer: 3 percent
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