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Q:

A sum at simple interest at $13 \frac{1}{2}$ % per annum amounts to Rs. 2502.50 after 4 years. Find the sum

A) Rs.1625	B) Rs1525
C) Rs.1425	D) Rs.1325

Answer & Explanation Answer: A) Rs.1625

Explanation:

Let sum be Rs.x then, S.I. =Rs. [ x * (27/2) * 4 * (1/100) ] = Rs. 27x/50

Amount =Rs [ x + (27x/50)] = Rs.77x/50

=> 77X/50 = 2502.50

=>X= (2502.50 * 50)/77 = 1625

Hence Sum = Rs.1625

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Bank PO

Q:

Find: S.l. on Rs 3000 at 18% per annum for the period from 4th

A) 118	B) 105
C) 108	D) 110

Answer & Explanation Answer: C) 108

Explanation:

(24 + 31 + 18) days = 73 days = 1/5 year .

P = Rs 3000 and R = 18 % p.a.

$S . I = (\frac{3000 * 18 * \frac{1}{5}}{100})$

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Job Role: Bank PO

Q:

Find: S.l. on Rs 6250 at 14% per annum for 146 days.

A) Rs.350	B) Rs.450
C) Rs.550	D) Rs.650

Answer & Explanation Answer: A) Rs.350

Explanation:

P = Rs. 6250, R = 14 % & T = (146/365) years = 2/5 years .

S.I= $R s . [\frac{6250 * 14 * \frac{2}{5}}{100}] = R s . 350$

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Filed Under: Simple Interest
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Job Role: Bank PO

Q:

Find: S.l on Rs 68000 at $16 \frac{2}{3}$ 1 % per annum for 9 months

A) 6500	B) 7500
C) 8500	D) 9500

Answer & Explanation Answer: C) 8500

Explanation:

P = 68000, R = $\frac{50}{3}$ % & T = 9 months (3/4 years)

$S . I = \frac{p \times r \times t}{100} = [\frac{(6800 \times \frac{50}{3} \times \frac{3}{4})}{100}] = R s . 8500$

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Q:

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

A) 5%	B) 8%
C) 12%	D) 15%

Answer & Explanation Answer: C) 12%

Explanation:

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.

S.I. for 5 years = Rs. $\frac{2205}{3} \times 5$ = Rs.3675

Principle = Rs.(9800-3675) = Rs.6125

Hence, Rate = $[\frac{100 \times 3675}{6125 \times 5}]$ =12%

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Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

Q:

A Rent 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:

A) 5%	B) 7%
C) 7.5%	D) 10%

Answer & Explanation Answer: D) 10%

Explanation:

Let the rate be R% p.a.

Then, $\frac{5000 \times r \times 2}{100} + \frac{3000 \times r \times 4}{100} = 2200$

Rate = 10%

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Q:

How much time will it take for an amount of Rs. 450 to yield Rs. 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

Answer & Explanation Answer: B) 4 years

Explanation:

Time = (100 x 81)/(450 x 4.5) years

= 4 years.

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Q:

You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate

A) 6%	B) 5%
C) 7%	D) 8%

Answer & Explanation Answer: A) 6%

Explanation:

1. To find the interest, subtract the principal from the balance.

$618 - $600 = $18

2.Use the simple interest formula and solve for r.

I = Prt

18= 600 x r x (1/2)

r= 0.06 =6%

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Filed Under: Simple Interest
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Job Role: Bank PO

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