# Simple Interest Questions

**FACTS AND FORMULAE FOR SIMPLE INTEREST QUESTIONS**

**1. Principal:** The money borrowed or lent out for a certain period is called the **principal **or the **sum**.

**2. Interest:** Extra money paid for using other's money is called **interest**

**3. Simple Interest (S.I.) : **If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called **simple interest.**

Let Principal = P, Rate = R% per annum (p.a.) and Time = T years. Then,

(i) $S.I=\left(\frac{P\times T\times R}{100}\right)$

(ii) $P=\left(\frac{100\times S.I}{R\times T}\right);R=\left(\frac{100\times S.I}{P\times T}\right)andT=\left(\frac{100\times S.I}{P\times R}\right)$

A) Rs. 480 | B) Rs. 280 |

C) Rs. 330 | D) Rs. 290 |

A) Rs.4000 | B) Rs.5000 |

C) Rs.6000 | D) Rs.7000 |

A) 12 : 13 | B) 3 : 4 |

C) 3 : 2 | D) 13 : 22 |