Simple Interest
Exam Duration: 45 Mins Total Questions : 30
What will be the simple interest earned on an amount of Rs.16,800 in 9 months at the rate of 6\(1\over4\)% p.a.?
- (a)
Rs.787.50
- (b)
Rs.812.50
- (c)
Rs.860
- (d)
Rs.887.50
The simple interest on Rs.1820 from March 9, 2003 to May 21, 2003 at 7\(1\over4\)% rate will be:
- (a)
Rs.22.50
- (b)
Rs.27.30
- (c)
Rs.28.80
- (d)
Rs.29
How much time will it take for an amount of 450 to yield 81 as interest at 4.5% per annum of simple interest ?
- (a)
3.5 years
- (b)
4 years
- (c)
4.5 years
- (d)
5 years
A man took a loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs.5400 interest only for the period. The principal amount borrowed by him was:
- (a)
Rs.2000
- (b)
Rs.10,000
- (c)
Rs.15,000
- (d)
Rs.20,000
A sum fetched a total simple interest of Rs.4016.25 at the rate of 9 p.c.p.a in 5 years. What is the sum ?
- (a)
Rs.4462.50
- (b)
Rs.8032.50
- (c)
Rs.8900
- (d)
Rs.8925
- (e)
None of these
The simple interest at x% for x years will be Rs.x on a sum of :
- (a)
Rs.x
- (b)
Rs.\(({100\over x})\)
- (c)
Rs. 100x
- (d)
Rs.\(({100\over x^{2}})\)
The interest on a certain deposit at 4.5% p.a. is Rs.202.50 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a. ?
- (a)
Rs.20.25
- (b)
Rs.22.50
- (c)
Rs.25
- (d)
Rs.42.75
A sum invested at 5% simple interest per annum grows to Rs.504 in 4 years. The same amount at 10% simple interest per annum in 2\(1\over2\) year wil grow to :
- (a)
Rs.420
- (b)
Rs.450
- (c)
Rs.525
- (d)
Rs.550
Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13 % p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs.8160, how much money did he borrow?
- (a)
Rs.8000
- (b)
Rs.10,000
- (c)
Rs.12,000
- (d)
Data inadequate
- (e)
None of these
The simple interest on Rs.10 for 4 months at the rate of 3 paise per rupee per month is :
- (a)
Rs.1.20
- (b)
Rs.1.60
- (c)
Rs.2.40
- (d)
Rs.3.60
In how many years will a sum of money double itself at 12% per annum ?
- (a)
6 years 9 months
- (b)
7 years 6 months
- (c)
8 years 3 months
- (d)
8 years 4 months
If a sum of money at simple interest doubles in 6 years, it will become 4 times in :
- (a)
12 years
- (b)
14 years
- (c)
16 years
- (d)
18 years
A sum of money tables itself in 15 years 6 months. In how many years would it double itself?
- (a)
6years 3 months
- (b)
7years 9 months
- (c)
8years 3 months
- (d)
9years 6 months
Consider the following statements:
If a sum of money is lent at simple interest, then the
1. money gets doubled in 5 years if the rate of interest is 16\(2\over3\)%
2. money gets doubles in 5 yeats if the rate of interest is 20%.
3. money becomes four times in 10 years if it gets double in 5 years. Of these statements,
- (a)
1 and 3 are correct
- (b)
2 alone is correct
- (c)
3 alone is correct
- (d)
2 and 3 are correct
Simple interest on a certain sum at a certain annual rate of interest is \(1\over9\) of the sum. If the numbers representing rate percent and time in years be equal, then the rate of interest is :
- (a)
3\(1\over3\)%
- (b)
5%
- (c)
6\(2\over3\)%
- (d)
10%
Simple interest on a certain amount is \(9\over16\) of the principal. If the numbers representing the rate of interest in percent and time in years be equal, then time, for which the principal is lent out, is :
- (a)
5\(1\over2\)years
- (b)
6\(1\over2\)years
- (c)
7 years
- (d)
7\(1\over2\) years
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 ali from both of them as interest. The rate of interest per annum is :
- (a)
5%
- (b)
7%
- (c)
7\(1\over8\)%
- (d)
10%
A sum was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched Rs. 72 more. The sum is :
- (a)
Rs. 1200
- (b)
Rs. 1500
- (c)
Rs. 1600
- (d)
Rs. 1800
What annual payment will discharge a debt of Rs. 6450 due in 4 years at 5% simple interest ?
- (a)
Rs.1400
- (b)
Rs.1500
- (c)
Rs.1550
- (d)
Rs.1600
The price of a T.V set worth Rs. 20,000 is to be paid in 20 instalments of Rs. 1000 each. If the rate of interest be 6% per annum, and the first instalment be paid at the time of purchase, then the value of the last instalment covering the interest as well will be :
- (a)
Rs. 1050
- (b)
Rs. 2050
- (c)
Rs. 3000
- (d)
None of these
A sum of Rs. 2600 is lent out in two parts in such a way that the interest on one part at 10% for 5 years is equal to that on another at 9% for 6 years. The sum lent out at 10% is :
- (a)
Rs. 1150
- (b)
Rs. 1250
- (c)
Rs. 1350
- (d)
Rs. 1450
A sum of Rs. 1550 was lent partly at 5% and partly at 8% p.a. simple interest. The total interest received after 3 years was Rs. 300. The ratio of the money lent at 5% to that lent at 8% is :
- (a)
5 ; 8
- (b)
8 : 5
- (c)
16 : 15
- (d)
31 : 6
An amount of Rs. 1,00,000 is invested in two types of shares. The first yields an interest of 9% p.a. and the secound, 11% p.a. If the total interest at the end of one year is 9\(3\over4\)%, then the amount invested in each share was :
- (a)
Rs. 52,500; Rs. 47,500
- (b)
Rs. 62,500; Rs. 37,500
- (c)
Rs. 72,500; Rs. 27,500
- (d)
Rs. 82,500; Rs. 17,500
David invested certain amount in three different schemes A, B and C with the rate of interest 10% p.a. 12% p.a. and 15% p.a. respectively. If the total interest accrued in one year was Rs. 3200 and the amount invested in Scheme C was 150% of the amount invested in Scheme A and 240% of the amount invested in Scheme B, what was the amount invested in Scheme B?
- (a)
Rs. 5000
- (b)
Rs. 6500
- (c)
8000
- (d)
Cannot be determined
- (e)
None of these
A person invested in all Rs. 2600 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interest in all the three cases. The money invested at 4% is :
- (a)
Rs. 200
- (b)
Rs. 600
- (c)
Rs. 800
- (d)
Rs. 1200
The simple interest on a sum of money is Rs. 50. What is the sum ?
I. The interest rate is 10% p.a.
II. The sum earned simple interest in 10 years.
- (a)
if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
if the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
if the data in both Statement I and II together are not sufficient to answer the question
- (e)
if the data in both Statement I and II together are necessary to answer the question
How much money did X-invest ?
I. An increase in the rate of interest from 4\(7\over8\)% to 5\(1\over8\)% per annum increases his yearly income by Rs. 25.
II. The sum invested gets doubled, when invested at 8% p.a. for 12\(1\over2\) years.
- (a)
if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
if the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
if the data in both Statement I and II together are not sufficient to answer the question
- (e)
if the data in both Statement I and II together are necessary to answer the question
A man borrowed a total sum of Rs. 24000 from two moneylenders. For one loan, he paid interest @ 7\(1\over2\)% p.a. and for the other 9% p.a. How many did he borrow at each rate ?
I. The sum of the interests after one year was Rs. 2025.
II. The interest on one sum was twice that on the other.
- (a)
if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
if the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
if the data in both Statement I and II together are not sufficient to answer the question
- (e)
if the data in both Statement I and II together are necessary to answer the question
What is the sum which earned interest ?
I. The total simple interest was Rs. 7000 after 7 years.
II. The total of sum and simple interest was double of the sum after 5 years.
- (a)
if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question
- (b)
if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question
- (c)
if the data either in Statement I or in Statement II alone are sufficient to answer the question
- (d)
if the data in both Statement I and II together are not sufficient to answer the question
- (e)
if the data in both Statement I and II together are necessary to answer the question
What is the prinicipal sum ?
I. The sum amounts to Rs. 690 in 3 years at S.I.
II. The sum amounts to Rs. 750 in 5 years at S.I.
III. The rate of interest is 5% p.a.
- (a)
I and III only
- (b)
II and III only
- (c)
I and II only
- (d)
I and III only, or II and III only
- (e)
Any two of the three