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Simple Interest Test 9
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Simple Interest Test 9
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  • Question 1/19
    1 / -0

    A certain sum of money at certain rate of interest becomes Rs 3420 after 2 years and at same rate after two and a half years becomes Rs 3525. Find the rate percent per annum.

    Solutions

    Explanation: 

    Amount after 2.5 yrs = 3525, after 2 yrs = 3420

    So SI for half yr = 3525-3420 = 105, so for 1 yr SI = 105*2 = 210

    P + 2*SI = 3420

    So P = 3420 – 2*210 = 3000

    So 3000*r*2/100 = 420

     

  • Question 2/19
    1 / -0

    Rs 1200 becomes Rs 1632 after 4 years. If the rate of interest is increased by 2%, what will be the amount then? 

    Solutions

    Explanation: 

    Increase in interest in 4 yrs with rate 2%= 1200*4*2/100 = 96

    So amount = 1632+96 = 1728

     

  • Question 3/19
    1 / -0

    Rs 240 amounts to Rs 259.2 in 2 years, what will Rs 320 amount to in 4 yrs? 

    Solutions

    Explanation: 

    Interest on Rs 240 in 2 yrs = 259.2 – 240 = 19.2

    So interest on Rs 320 = 19.2*(320/240)*(4/2) = 51.2

    So amount = 320+51.2

     

  • Question 4/19
    1 / -0

    Arun divides Rs 4702 among A, B, and C, so that if the amounts being invested at 4% simple interest, the amounts received after 2, 3 and 4 yrs by A, B, and C respectively is equal. Find the share of B?

    Solutions

    Explanation: 

    4702 will be divided in ratio –

    1/[100+rt1] : 1/[100+rt2] : 1/[100+rt3] 1/[100+4*2] : 1/[100+4*3] : 1/[100+4*4] 1/108 : 1/112 : 1/116

    = 812 : 783 : 756

    So B gets 783/(812+783+756) * 4702 = 1566

     

  • Question 5/19
    1 / -0

    Rs 6200 is lent in two parts , one part at 6% for 5 years and second part at 8% for 4 years. After 5 years and 4 years respectively, the interests received from both parts is same. Find the amount lend at 6%. 

    Solutions

    Explanation: 

    Parts will be divided in ratio –

    1/r1t1 : 1/r2t2

    1/6*5 : 1/8*4

    32 : 30 = 16 : 15

    At 6% = 16/(16+15) * 6200

     

  • Question 6/19
    1 / -0

    Rs 15,000 is to be invested in 2 schemes, one part is invested in scheme A which offers 9.5% rate of interest and remaining part is invested in scheme B which offers 5% rate on interest. After 3 years, a total of Rs 3600 is received as simple interest. What is the part invested in scheme A?

    Solutions

    Explanation: 

    Rate for 3 yrs on total 15,000:

    15000*r*3/100 = 3600

    r = 8%

    By method of allegation:

    9.5                   5

    .            8

    3                       1.5

    2 : 1

    So in scheme A, 2/(2+1) * 15000 is invested

     

  • Question 7/19
    1 / -0

    A sum of money invested for 13 years yields Rs 2500 as simple interest. The interest rate being charged at 4% for first 3 years, 5% for next 4 years and 8% beyond 7 years. What is the principal invested?

    Solutions

    Explanation: 

    Beyond 7 years is after 7 years for remaining (13-7) = 6 years

    P = 2500*100/[r1t1+r2t2+r3t3] P = 2500*100/[4*3 + 5*4 + 8*6]

     

  • Question 8/19
    1 / -0

    A certain sum of money invested at 4% for 9 years yields Rs 1980 as simple interest. At what rate of interest the same amount can be received on the same sum after 6 years?

    Solutions

    Explanation: 

    P*4*9/100 = 1980

    P = 5500

    So 5500*r*6/100 = 1980

     

  • Question 9/19
    1 / -0

    A borrowed Rs 2500 and some money from B and C respectively at 7% rate. After 4 years A pays a total of Rs 1120 as simple interest to B and C. What is the sum borrowed from C? ​​​​​​

    Solutions

    Explanation: 

    2500*7*4/100 + x*7*4/100 = 1120

     

  • Question 10/19
    1 / -0

    The simple interest on a sum of money will be rupees 210 after 3 years. In the next 3 years, principal become 4 times, then the total interest at the end of 6 years.

    Solutions

    Explanation :

    210 = P*(r/100)*3

    now, SI = 4*p*(r/100)*3

    SI = 4*210 = 840. So total SI for 6 years = 840 + 210 = 1050.

     

  • Question 11/19
    1 / -0

    Rahul earns an income of rupees 1200 when he put rupees 3000 at R% per annum and rupees 4500 at one percent higher than previous. He invests for a period of 5 years. Find the rates of interest.

    Solutions

    Explanation :

    1200 = 3000*(r/100)*5 + 4500*(r+1/100)*5

    r = 13/5% and r+1 = 18/5%

     

  • Question 12/19
    1 / -0

    A sum of 5000 is invested in which the investor gets 800 as simple interest at the rate of 4 percent per annum. To get an interest of 2000 rupees on the same sum in the same number of years, what will be the rate of interest?

    Solutions

    Explanation :

    800 = 5000*(4/100)*t, we got t = 4 years

    now, 2000 = 5000*(r/100)*4, we get r = 10%

     

  • Question 13/19
    1 / -0

    A certain sum of money is borrowed by ankit at 5 percent per annum for 10 years. If he pays an interest of rupees 200, then the total amount paid by ankit.

    Solutions

    Explanation :

    200 = p*(5/100)*10, we get P = 400

    so total amount = 400+200 = 600

     

  • Question 14/19
    1 / -0

    Rakesh borrowed rupees 5000 from a bank ABC at simple interest. He pays bank 3000 rupees at the end of 3 years and again he pays 2500 at the end of 5 years from the date of borrowing, Find the rate of interest charged by bank.

    Solutions

    Explanation :

    Total money paid by rakesh = 3000 + 2500 = 5500 so total interest paid by rakesh is 500.

    For the first three years 5000 will be the principal , then he returns rupees 3000 so fir the next 2 years 2000 will be principal.

    500 = 5000*(r/100)*3 + 2000*(r/100)*2, u will get r = 50/19%

     

  • Question 15/19
    1 / -0

    Some amount of money out of 8000 rupees is lent at 8 percent and remaining at 6 percent per annum. If the total interest obtained from both sum in 4 years is 2400, then find the sum lent at 8 percent rate (approx)

    Solutions

    Explanation :

    2400 = p*(8/100)*4 + (8000 – p)*4*(6/100)

    p = 6000

     

  • Question 16/19
    1 / -0

    Two equal amount of sum are deposited in banks at the rate 5 percent per annum. The amount deposited for 3 and 5 years respectively. If the difference between the SI obtained is 120 rupees, then find the sum.

    Solutions

    Explanation :

    120 = p*(5/100)*5 – p*(5/100)*3

     

  • Question 17/19
    1 / -0

    A sum of rupees is divided between three people A, B and C in such a way that after 2 years, 3 years and 4 years respectively the amount they get is equal. The rate of interest is 10 percent. Find the ratio in which the amount is divided.

    Solutions

    Explanation :

    Let they get A, B and C rupees initially.

    Amount after 2, 3 and 4 years respectively = 6A/5, 13B/10, 7C/5

    Ratio=> 6A/5 : 13B/10 : 7C/5 = x (x is any constant)

    A = 5x/6 , B = 10x/13 and C = 5x/7

    So ratio – 91:78:84

     

  • Question 18/19
    1 / -0

    Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple interest. After every 3 rd year he added interest to principal. Find the interest earned at the end of 6th year.

    Solutions

    Explanation :

    For the first 3 years SI will be = 20000*10/100*3 = 6000

    Now he add 3000 to the principal i.e = 20000+6000 = 26000

    Now interest earned at end of 6th year = 26000*10/100*3 = 7800

     

  • Question 19/19
    1 / -0

    The simple interest on a certain sum is 4/9 of the principal and the numbers of years is equal to the rate of interest. The rate of interest is.

    Solutions

    Explanation :

    4/9*P = P*R/100*R

     

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