Simple Interest problems
- 1. The effective annual rate of interest corresponding to a nominal rate of 15% per annum payable half-yearly is
Options- A. 15.56 percent
- B. 30 percent
- C. 31.13 percent
- D. 15 percent Also asked in: Bank Exams
Correct Answer: 15.56 percent
- 2. A sum becomes Rs 2286 in 3 years and Rs 2448 in 4 years at simple interest. What is the rate (in percentage) of interest per annum?
Options- A. 10
- B. 9
- C. 8
- D. 11 Also asked in: Bank Exams
Correct Answer: 9
- 3. 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 Also asked in: Bank Exams
Correct Answer: 700
- 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% Also asked in: Bank Exams
Correct Answer: 2%
- 5. 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 Also asked in: Bank Exams
Correct Answer: 5 years
- 6. 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 % Also asked in: Bank Exams
Correct Answer: 12 1?2 %
- 7. 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 Also asked in: Bank Exams
Correct Answer: 9
- 8. 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 Also asked in: Bank Exams
Correct Answer: 81600
- 9. 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 Also asked in: Bank Exams
Correct Answer: 8
- 10. 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 Also asked in: Bank Exams
Correct Answer: 7
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