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Simple Interest Test 2
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Simple Interest Test 2
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  • Question 1/10
    1 / -0

    Mr. Anuraag Awasthi deposits an amount of Rs 56500 to obtain a simple interest at the rate of 12% p.a. for 3 years. What total amount will Mr. Anuraag Awasthi get at the end of 3 year?

    Solutions

    Simple interest

    = Rs

    ∴ Required amount

    = Rs (56500 + 20340)

    = Rs 76840

  • Question 2/10
    1 / -0

    Veena obtained an amount of Rs 8, 376 as simple interest on a certain amount at 8% p.a. after 6 years. What is the amount invested by Veena?

    Solutions

    Amount invested

    = Rs 17450

  • Question 3/10
    1 / -0

    The interest on sum of money at the end of 2½ years is ⅘ of the sum. The rate per cent per year is

    Solutions

  • Question 4/10
    1 / -0

    The simple interest on Rs 200 for 7 months at 5 paise per rupee per month is

    Solutions

    Rate = 5 paise per rupee = 5%

    = Rs 70

  • Question 5/10
    1 / -0

    What annual installment will discharge a debt of Rs 4,200 due in 5 years at 10% simple interest?

    Solutions

    Shortcut method:

    If borrowed amount be Rs M and it is to be paid in equal installments, then

    where Y = no. of installments per annum, a = annual installment

    Here, M = 4200, y = 1, r = 10, n = 5, a = ?

    ⇒ 

    ⇒ a = Rs 700

  • Question 6/10
    1 / -0

    A person borrows Rs 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6¼% p.a. for 2 years. Find his gain in the transaction per year.

    Solutions

    Gain in 2 years

    = Rs (625 – 400) = Rs 225.

    ∴ Gain in 1 year

    = Rs 112.50

  • Question 7/10
    1 / -0

    A certain amount earns simple interest of Rs 1750 after 7 years Had the interest been 2% more, how much more interest would it have earned?

    Solutions

    We need to know the S.I., principal and time to find the rate.

    Since the principal is not given, so data is inadequate.

  • Question 8/10
    1 / -0

    What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?

    Solutions

    Let the principal be P and rate of interest be R%.

    Required ratio

  • Question 9/10
    1 / -0

    A lent Rs 5000 to B for 2 years and Rs 3000 to C for 4 years on simple interest at the same rate of interest and received
    Rs 2200 in all from both of them as interest. The rate of interest per annum is:

    Solutions

  • Question 10/10
    1 / -0

    The difference between the simple interest received from two different sources on Rs 1500 for 3 years is Rs 13.50. The difference between their rates of interest is:

    Solutions

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