Simple Interest
Question 1 |
A sum amounts to Rs 2506 at simple interest rate of 13.5% per annum after 4 years. Find the sum.
1624.25 | |
1621.27 | |
1624.27 | |
1627.27 |
Discuss it
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?
Rs 1015 | |
Rs 1016 | |
Rs 1025 | |
Rs 1102 |
Discuss it
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?
Rs 8750 | |
Rs 8745 | |
Rs 8678 | |
Rs 8555 |
Discuss it
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.
Rs 740 | |
Rs 745.63 | |
Rs 742.63 | |
Rs 740.63 |
Discuss it
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:
667 | |
756 | |
765 | |
625 |
Discuss it
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
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.
1565 | |
1522 | |
1675 | |
1575 |
Discuss it
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.
= 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?
2 | |
1 | |
5 | |
4 |
Discuss it
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?
5.5% | |
6.5% | |
6% | |
5% |
Discuss it
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.
20 | |
15 | |
17 | |
13 |
Discuss it
Question 9 Explanation:
SI = 300*10*(6/12)/100
= 15
= 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.
5 | |
4 | |
4.25 | |
6 |
Discuss it
Question 10 Explanation:
R=SI. 100/P.T
= (31.25 X 100)/(468.75 X 5/3)
= 4
There are 16 questions to complete.
