Simple Interest
Simple Interest - Important Points
| 6. | A sum was put at simple interest at a certain rate for 10 years. Had it been put at 5% higher rate, it would have fetched Rs.600 more. What was the Sum? |
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A. Rs.1200
B. Rs.1300
C. Rs.1400
D. Rs.1500
View Answer Discuss Work SpaceAnswer: option a
Explanation:
At 5% more rate, the increase in SI for 10 years = Rs. 600 (given)
So, at 5% more rate, the increase in SI for 1 year = 600/10 = Rs.60
i.e. Rs.60 is 5% of the invested sum
=> 60 = P*5*1/100
=> P = 1200
| 7. | A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is: |
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A. 5%
B. 8%
C. 12%
D. 15%
View Answer Discuss Work SpaceAnswer: option c
Explanation:
S.I. for 3 years = 12005 - 9800 = 2205
S.I. for 5 years = (2205/3)*5 = 3675
P = 9800 - 3675 = 6125
Hence, Rate = [100*3675/(6125*5)] = 12%
| 8. | A man borrowed Rs 24000 from two money lenders. For one loan, he paid 15% per annum SI and for the other 18% per annum SI. At the end of one year, he paid Rs 4050. How much did he borrow at the rate of 18% ? |
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A. Rs.16000
B. Rs.12000
C. Rs.15000
D. Rs.13000
View Answer Discuss Work SpaceAnswer: option c
Explanation:
Let the sum at 15% be Rs x and that at 18% be Rs (24000 - x)
[(x * 15 * 1)/100] + [(24000 – x) * 18 * 1/100] = 4050
=>15x + 432000 - 18x = 405000
=>x = 9000
Money borrowed at 15% = Rs 9000
Money borrowed at 18% = Rs 15000
| 9. | A person takes a loan of Rs. 200 at 5% simple interest. He returned 50% of principal at the end of one year. In order to clear his dues at the end of 2 years, he would pay : |
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A. Rs. 100
B. Rs. 105
C. Rs. 115
D. Rs. 110
View Answer Discuss Work SpaceAnswer: option c
Explanation:
SI for Rs.200 at the end of one year = Rs.10
SI for remaining Rs.100 = Rs.5
Amount to be paid = Rs.115
| 10. | A Certain sum of money amounts to Rs.2500 in a span Of 5 years and further to Rs.3000 in a span of 7 years at simple interest. The sum is: |
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A. Rs. 1800
B. Rs. 2000
C. Rs. 1400
D. Rs. 1250
View Answer Discuss Work SpaceAnswer: option d
Explanation:
Increase in amount in 2 years = Rs.500
Increment in 1 year = Rs.250
=> for 5 years = Rs.250*5 = Rs.1250 (this is interest accumulated in 5 years)
P = 2500 - 1250 = 1250
Simple Interest Questions and Answers FAQ
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