Simple Interest problems
- 1. How much simple interest will Rs. 4000 earn in 18 months at 12% per annum?
Options- A. Rs.216
- B. Rs.360
- C. Rs.720
- D. Rs.960 Discuss
Correct Answer: Rs.720
- 2. Simple interest on a certain sum of money for 3 years at 10% per annum is half the compound interest on Rs 6000 for 2 years at 10% per annum. The sum placed on simple interest is
Options- A. Rs 4200
- B. Rs 2100
- C. Rs 1680
- D. Rs 1050 Also asked in: Bank Exams
Correct Answer: Rs 2100
- 3. Each question contains Quantity I and Quantity II. Read the contents clearly and answer your questions accordingly. Quantity I: The Sl on a certain sum of money for 3 years at 5% per annum is Rs 4800. Then the principle is? Quantity II: The Cl on a certain sum of money for 2 years at 6% per annum is Rs. 3708. Then the principle is?
Options- A. Quantity I > Quantity II
- B. Quantity I ? Quantity II
- C. Quantity I < Quantity II
- D. Quantity I < Quantity II Discuss
Correct Answer: Quantity I > Quantity II
Explanation:
Quantity I=15% of Principle=4800
Principle=Rs.32000
Quantity II=12.36% of Principle =3708
Principle=Rs.30000
Hence Quantity I > Quantity II
- 4. A sum of Rs 8000 is divided into two parts. The simple interest on first part at the rate of 21% per annum is equal to the simple interest on second part at the rate of 35% per annum. What is the interest (in Rs) of each part?
Options- A. 1050
- B. 840
- C. 1400
- D. 1220 Also asked in: Bank Exams
Correct Answer: 1050
- 5. The interest earned on Rs. 1600 at the rate of 5% S>I per annum for 6 yrs would be:
Options- A. 2080
- B. 450
- C. 496
- D. 480 Also asked in: Bank Exams
Correct Answer: 480
- 6. At 9.5% simple interest per annum a sum of money became Rs. 942 in 6 years. The sum initially invested was:
Options- A. 600
- B. 616
- C. 626
- D. 636 Also asked in: Bank Exams
Correct Answer: 600
- 7. Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs 1200 for 2 years at 10% per annum. The sum placed on simple interest is
Options- A. Rs 525
- B. Rs 1050
- C. Rs 260
- D. Rs 420 Also asked in: Bank Exams
Correct Answer: Rs 525
- 8. The difference between the simple interest obtained by investing Rs. 'X' with 8% per annum for an year and by investing Rs. 'X+1400' with 8% per annum for two years is 240 Rs. Find the value of X.
Options- A. 200
- B. 100
- C. 400
- D. 300 Also asked in: Bank Exams
Correct Answer: 200
Explanation:
[(X+1400)*8*2/100] - [(X*8*1)/100]= 240
0.16X + 14*16 - 0.08X = 240
0.08X = 240 - 224
0.08X = 16
X = Rs. 200
- 9. The difference between Simple Interest and Compound Interest at the rate of 12% on the same amount for 3 years is Rs. 112.32. What is the principal amount if interest is compounded annually?
Options- A. Rs. 25000
- B. Rs. 2500
- C. Rs. 50000
- D. Rs. 5000 Also asked in: AIEEE, Bank Exams, GATE
Correct Answer: Rs. 2500
- 10. What Principal will yield Rs. 120 as Simple Interest at 6% p.a. in 10 years?
Options- A. ? 120
- B. ? 180
- C. ? 200
- D. ? 210 Also asked in: Bank Exams
Correct Answer: ? 200
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