Simple Interest


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Question 1
A sum amounts to Rs 2506 at simple interest rate of 13.5% per annum after 4 years. Find the sum.
A
1624.25
B
1621.27
C
1624.27
D
1627.27
Simple Interest     
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Question 1 Explanation: 
Let the required sum be x. Then, Simple interest = (x × 4 × 13.5/100) = Rs 27x/50. Amount = (x + 27x/50) = Rs 77x/50. Therefore, 77x/50 = 2506 ⇒ 77x = 2506 × 50 ⇒ x = 125300/77 ⇒ x = 1627.27.
Question 2
Charles deposits a sum of Rs 800 that will amount to Rs 920 in 3 years. However, the bank decides to increase the interest rate by 4%. What amount will he receive now?
A
Rs 1015
B
Rs 1016
C
Rs 1025
D
Rs 1102
Simple Interest     
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Question 2 Explanation: 
Charles gets simple interest (SI) = Rs 920-800 = Rs 120. Here, Principal (P) = Rs 800 and Time (T) = 3 years. We know, Rate (R) = (100×SI)/(P×T) = (100×120)/(800×3) = 5%. Given, New Rate = 9%. So, New Interest = P×R×T = 800×0.09×3 = Rs 216. Therefore, Charles will get Rs (800+216) = Rs 1016.
Question 3
What will be the simple interest on Rs 70,000 at 50/3 % per annum after 9 months?
A
Rs 8750
B
Rs 8745
C
Rs 8678
D
Rs 8555
Simple Interest     
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Question 3 Explanation: 
Given, Principal (P) = Rs 70000, Rate (R) = 50/3 % per annum and Time (T) = 9/12 = 3/4 years. Simple Interest (SI) = P×R×T = 70000×(50/300)×(3/4) = Rs 8750.
Question 4
George invests an amount of Rs 15800 for 9 months at the rate of 25/4 % per annum. Find out of the simple interest on his investment.
A
Rs 740
B
Rs 745.63
C
Rs 742.63
D
Rs 740.63
Simple Interest     
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Question 4 Explanation: 
Given, Principal = 15800. Rate = 25/4 % per annum. Time = 9/12 = 3/4 years. Hence, SI = 15800×(25/400)×(9/12) = Rs 740.63.
Question 5
An amount of Rs.9600 lent out at a rate of 9/2 % per annum for a 1 year and 9 months. At the end of the period, the amount he earned as S.I was:
A
667
B
756
C
765
D
625
Simple Interest     
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Question 5 Explanation: 
Given that, principal = P = Rs.9600, R = 9/2 % and T = 1 year and 9 months = 1 + 9/12 year = 7/4 years.
Now, we have to find the S.I for 7/4 years.
S.I = PRT/100 = Rs. 9600 x 9/2 x 7/4 x 1/100 = 12 x 9 x 7 = 756
Hence, the required S.I amount is Rs.756
Question 6
Ram landed Rs.33600 at 25/4 % per annum for 9 months. Find the amount he received as S.I.
A
1565
B
1522
C
1675
D
1575
Simple Interest     
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Question 6 Explanation: 
S.I = PRT/100
= Rs. 33600 x 25/4 x 3/4 x 1/100 = 21 x 25 x 3
= Rs.1575.
Question 7
Ram has an amount of Rs. 9000. How much time will it take to earn 1620 as S.I at a rate of 4.5% per annum?
A
2
B
1
C
5
D
4
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Question 7 Explanation: 
SI = PRT/100 T = S.I x 100/PR = 1620 x 100/9000 x 4.5 = 4
Question 8
At what rate of SI, a sum of Rs.7000 amounts to Rs.7700 in 2 years?
A
5.5%
B
6.5%
C
6%
D
5%
Simple Interest     
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Question 8 Explanation: 
SI= 7700-7000 = 700 700 = 7000*R*2/100 R = 70000/14000 = 5%
Question 9
Find the simple interest on Rs.300 for 6 months at 10% per annum.
A
20
B
15
C
17
D
13
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Question 9 Explanation: 
SI = 300*10*(6/12)/100
= 15
Question 10
A sum of Rs.468.75 was lent out at simple interest and at the end of 1 2/3 year the SI earned is Rs 31.25. Find the rate of interest per cent annum.
A
5
B
4
C
4.25
D
6
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Question 10 Explanation: 
R=SI. 100/P.T = (31.25 X 100)/(468.75 X 5/3) = 4
There are 15 questions to complete.
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