• ( 1 ) Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?

    • 1) Rs. 992
    • 2) Rs. 1112
    • 3) Rs. 1056
    • 4) Rs. 1182
    • Discussion in forum
      Answer : 1) Rs. 992
      Solution : Principal = 800 SI = 120 Time = 3 year
      Rate = (100*120/800*3) = 5%
      New rate = 8 % principal = 800 time 3 year
      SI = (800*8*3/100) = 192
      New amount = 800 + 192 = 992








      discussion


      Answer : 1) Rs. 992

    • ( 2 ) Rashi deposits an amount of Rs.95000 at the rate of 12 p.c.p.a simple interest for 4 years. What total amount will Rashi get at the end of 4years?

    • 1) Rs.45600
    • 2) Rs.93100
    • 3) Rs.140600
    • 4) Rs.188100
    • Discussion in forum
      Answer : 3) Rs.140600
      Solution : Total Amount = Principal + Simple Interest
      Simple Interest = Principal * Rate * Term/100
      = 95000 * 12 * 4/100 = Rs.45600
      Therefore, the amount = Rs.95000 + Rs.45600 = Rs.140600.Ans.








      discussion


      Answer : 3) Rs.140600

    • ( 3 ) Sam invested a certain amount of money and got back an amount of $ 8400. If the bank paid an interest of $ 700, find the amount Sam invested.

    • 1) 7700
    • 2) 8000
    • 3) 9000
    • 4) 9977
    • Discussion in forum
      Answer : 1) 7700
      Solution : Amount (A) = $ 8400,
      Simple Interest (SI) = $ 700
      Principal (P) = Amount (A) - Interest (I)
      = 8400 - 700
      = 7700
      Therefore, Sam invested $ 7700.








      discussion


      Answer : 1) 7700

    • ( 4 ) Simple interest on a certain sum 16/25 of the sum. if both the rate of interest and time are same. then what is the rate of interest?

    • 1) 7%
    • 2) 8%
    • 3) 16%
    • 4) 21%
    • Discussion in forum
      Answer : 2) 8%
      Solution : Let the principal be Rs x. Then, S.I = Rs(16x/25)
      Let, rate = R% p.a
      and time = R yearss. Then,
      S.I = (P*T*R)/100 ==>16X/25
      = x*R*R/100 ==> R*R = 64 = 8
      Hence,rate = 8% p.a and time = 8 years








      discussion


      Answer : 2) 8%

    • ( 5 ) 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

    • 1) 0.10%
    • 2) 0.20%
    • 3) 0.30%
    • 4) 0.40%
    • Discussion in forum
      Answer : 3) 0.30%
      Solution : 1500 * R1 * 3/100 - 1500 * R3 * 3/100 = 13.50
      => 4500(R1 - R2) = 1350
      => R1 - R2 = 1350/4500=0.3%








      discussion


      Answer : 3) 0.30%

    • ( 6 ) 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

    • 1) 9%
    • 2) 10%
    • 3) 11%
    • 4) 12%
    • Discussion in forum
      Answer : 2) 10%
      Solution : Let R% be the rate of simple interest then,
      from question we can conclude that
      (5000 * R * 2/100) + (3000 * R * 4/100) = 2200
      => 100R + 120R = 2200
      => R = 10%








      discussion


      Answer : 2) 10%

    • ( 7 ) Satish took a loan at 10% p.a. S.I. After 4 years, he returned the principal along with the inlerest. If he returns in all Rs. 3500, what is the principal amount?.

    • 1) Rs. 3250
    • 2) Rs. 3150
    • 3) Rs. 2500
    • 4) Rs. 2100
    • Discussion in forum
      Answer : 3) Rs. 2500
      Solution : Let principal be x then x + (x * 10 * 4)/100 = 3500 hence x = 2500








      discussion


      Answer : 3) Rs. 2500

    • ( 8 ) A certain amount earns simple interest of Rs. 1200 after 10 years. Had the interest been 2% more, how much more interest would it have earned?

    • 1) Rs. 25
    • 2) None of these
    • 3) Rs. 120
    • 4) Cannot be determined
    • Discussion in forum
      Answer : 4) Cannot be determined
      Solution : Since we do not have the principal and rate of interest, we can not find out the required details.








      discussion


      Answer : 4) Cannot be determined

    • ( 9 ) Anurima invests an amount of Rs.12710 on simple interest after a certain period. For how many years did she invest the amount to obtain the total sum?

    • 1) 6 years
    • 2) 8 years
    • 3) 5 years
    • 4) 4 years
    • Discussion in forum
      Answer : 1) 6 years
      Solution : Term ( or no. of years etc ) = Simple Interest * 100/Principal * rate
      Simple Interest = Rs.12710 - Rs.10250 = Rs.2460
      Therefore, the term = 2460 * 100/4 * 10250 = 6 years. Ans.








      discussion


      Answer : 1) 6 years

    • ( 10 ) Richard deposits $ 5400 and got back an amount of $ 6000 after a year. Find the simple interest he got.

    • 1) 500
    • 2) 700
    • 3) 600
    • 4) 400
    • Discussion in forum
      Answer : 3) 600
      Solution : Principal (P) = $ 5400,
      Amount (A) = $ 6000
      Simple Interest (SI) = Amount (A) - Principal (P)
      = 6000 - 5400
      = 600
      Therefore, Richard got an interest of $ 600.








      discussion


      Answer : 3) 600





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