Simple Interest problems
- 1. Ankita borrows Rs. 7000 at simple Interest from a lender. Atthe end of 3 years, she again borrows Rs. 3000 and settledthat amount after paying Rs. 4615 as interest after 8 years from the time she made the first borrowing. What is the rate of interest?
Options- A. 5.5%
- B. 9.5%
- C. 7.5%
- D. 6.5% Discuss
Correct Answer: 6.5%
- 2. A man borrowed some money from a private organisation at 5% simple interest per annum. He lended this money to another person at 10% compound interest per annum, and made a profit of 26,410 in 4 years. The man borrowed
Options- A. 200000
- B. 150000
- C. 132050
- D. 100000 Also asked in: Bank Exams
Correct Answer: 100000
- 3. Simple interest on a sum for eight months at 6% per annum is Rs 340.What is the value (in Rs) of sum?
Options- A. 8500
- B. 9500
- C. 8000
- D. 6800 Also asked in: Bank Exams
Correct Answer: 8500
- 4. Ravi invested Rs.P in a scheme A offering simple interest at 10% p.a. for two years. He invested the whole amount he received from scheme A, in another scheme (B) offering simple interest at 12% p.a. for five years. If the difference between the interests earned from schemes A and B was Rs. 13,00/, what is the value of P ?
Options- A. 2500
- B. 2000
- C. 3000
- D. 3500 Discuss
Correct Answer: 2500
Explanation:
It is given that the initial amount invested in scheme A is Rs P at 10%per Annum S.I. =PTR/100 = P x 10 x 2/100 Now the total amount after 2 years is = 1.2P New Rate of interest = 12% per annum Time = 5 years S.I for next 5 years when new principal amount is 1.2 P = 1.2Px12x5/100 = 0.72P Total amount after 5 years at 12% per annun = 1.72P Given that 1.72P - 1.2P = 1300 P = 1300/0.52 P = Rs. 2500
- 5. The difference between the interests earned when Rs. P is invested for four years in a scheme offering 9% p.a. Simple interest and when the same sum (Rs P) is invested for two years in another scheme offering 12% p.a. simple interest, is Rs 480. What is the value of P?
Options- A. 2000
- B. 3500
- C. 2500
- D. 4000 Discuss
Correct Answer: 4000
Explanation:
p=(p*4*9)/100-(p*2*12)/100 = 480
=12p/100=480
p=4000
- 6. Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 16000 for 2 years at 10% per annum. The sum placed on simple interest is:
Options- A. Rs 14000
- B. Rs 3500
- C. Rs 7000
- D. Rs 5600 Also asked in: AIEEE, Bank Exams, CAT
Correct Answer: Rs 7000
- 7. The Simple Interest(SI) for 16 years on an amount at particular rate is Rs 10000. If the principal is doubled at an interval of every 4 years and the rate is tripled at every such in terval, find the new Simple Interest(SI)
Options- A. 632100
- B. 689620
- C. 602260
- D. 647500 Also asked in: Bank Exams
Correct Answer: 647500
Explanation:
Let New SI be X
10000/16 = X/4(1*1+2*3+4*9+8*27)
10000/16=X/4(1+6+36+216)
X=647500
- 8. The difference of compound interest and simple interest for 3 years and for 2 years are in ratio 23 : 7 respectively. What is rate of interest per annum (in %)?
Options- A. 200/7
- B. 100/7
- C. 300/7
- D. 400/7 Also asked in: Bank Exams
Correct Answer: 200/7
- 9. A person lent Rs 10000 to B for 3 years and Rs 6000 to C for 4 years on simple interest at same rate of interest and received Rs 5400 in all from both of them as interest. What is the rate of interest (in %)?
Options- A. 10
- B. 12
- C. 20
- D. 25 Also asked in: Bank Exams
Correct Answer: 10
- 10. A sum of Rs 400 becomes Rs 448 at simple interest in 2 years. In how many years will the sum of Rs 550 amounts to Rs 682 at the same rate?
Options- A. 2
- B. 3
- C. 3.5
- D. 4 Also asked in: Bank Exams
Correct Answer: 4
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