Simple Interest problems
- 1. If a person repaid Rs. 22500 after 10 years of borrowing a loan, at 10% per annum simple interest find out what amount did he take as a loan?
Options- A. 11,225
- B. 11,250
- C. 10,000
- D. 7,500 Also asked in: Bank Exams
Correct Answer: 11,250
Explanation:
SI = PTR/100
SI = PX100/100
SI = P
So, Amount=P+SI=2P?22500 = 2P?P = 11250
- 2. A sum of money invested at simpleinterest triples itself in 8 years. How many times will it become in 20 years time?
Options- A. 8 times
- B. 7 times
- C. 6 times
- D. 9 times Also asked in: Bank Exams
Correct Answer: 6 times
Explanation:
A = P(1 + rt/100)
So, A= 3P (it becomes triples)
3P = P(1 + 8r/100)?r = 25%
Now, when t = 20
?A = P(1 + 25*20/100)
?A = P(1+ 5)?A = 6P
So, it becomes 6 times.
- 3. Srinivasan invests two equal amounts in two banks giving 8% and 12% rate of interest respectively. At the end of year the interest earned is Rs. 1500. Find the sum invested in each.
Options- A. Rs. 5800
- B. Rs. 15000
- C. Rs. 7500
- D. Rs. 17,000 Also asked in: Bank Exams
Correct Answer: Rs. 7500
Explanation:
Let the sum invested be x.
? 8x/100 + 12x/100 = 1500
? 20x = 150000
? x = 7500
- 4. The simple interest accrued on a sum of money at the end of four years is 1/5th of its principal. What is the rate of interest per annum?
Options- A. 4%
- B. 5%
- C. 6%
- D. Inadequate data Also asked in: Bank Exams
Correct Answer: 5%
- 5. The difference between compound interest and simple interest on Rs. 5000 for 2 years at 8% per annum payable yearly is
Options- A. Rs.30
- B. Rs.31
- C. Rs.33
- D. Rs.32 Also asked in: Bank Exams
Correct Answer: Rs.32
- 6. The simple interest on a sum of money for 10 years is Rs 3130. If the principal becomes 5 times after 5 years, then what will be the total interest (in Rs)obtained after 10 years?
Options- A. 6260
- B. 7825
- C. 9390
- D. 15650 Also asked in: Bank Exams
Correct Answer: 9390
- 7. The difference between the compound interest compounding half yearly for 1 year and the simple interest for 1 year on a certain sum of money lent out at 8% per annum is Rs 64. What is the sum (in Rs)?
Options- A. 40000
- B. 42000
- C. 44000
- D. 44800 Also asked in: Bank Exams
Correct Answer: 40000
- 8. Simple Interest received by a person in 10 years on a principal of Rs 9500 is 130% of the principal. What is the rate of interest (in %) per annum?
Options- A. 12
- B. 13
- C. 15
- D. 19 Also asked in: Bank Exams
Correct Answer: 13
- 9. A person invested a total sum of Rs 7900 in three different schemes of simple interest at 3%, 5% and 8% per annum. At the end of one year he got same interest in all three schemes. What is the money (in Rs) invested at 3%?
Options- A. 2900
- B. 3500
- C. 4000
- D. 5600 Also asked in: Bank Exams
Correct Answer: 4000
- 10. A person lent certain sum of money at 10% per annum simple interest. In 20 years the interest amounted to Rs 500 more than the sum lent. What was the sum lent (in Rs)?
Options- A. 200
- B. 500
- C. 1000
- D. 250 Also asked in: Bank Exams
Correct Answer: 500
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