Question : What is the sum which earned interest | Simple Interest Questions & Answers

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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Q:

A man took 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.10000
C) Rs.15000	D) Rs.20000

Answer & Explanation Answer: C) Rs.15000

Explanation:

Principal = $R s (\frac{100 \times 5400}{12 \times 3}) = R s . 15000$

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Q:

A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?

A) 3.46%	B) 4.5%
C) 5%	D) 6%

Answer & Explanation Answer: A) 3.46%

Explanation:

Let the original rate be R%. Then, new rate = (2R)%.

Note: Here, original rate is for 1 year(s); the new rate is for only 4 months i.e.1/3 year(s).

$(\frac{725 * R * 1}{100}) + (\frac{362.50 * 2 R * 1}{100 * 3}) = 33.50$

=> (2175 + 725) R = 33.50 x 100 x 3

=> (2175 + 725) R = 10050

=> (2900)R = 10050

=> $R = \frac{10050}{2900} = 3.46$

Original rate = 3.46%

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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:

An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective rate of interest becomes:

A) 10%	B) 10.25%
C) 10.5%	D) none of these

Answer & Explanation Answer: B) 10.25%

Explanation:

Let the sum be Rs. 100. Then,

S.I. for first 6 months = Rs.[ (100 x 10 x 1)/(100 x 2) ]= Rs.5

S.I. for last 6 months =Rs.[(102 x 10 x 1)/(100 x 2) ] = Rs.5.25

So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25

Effective rate = (110.25 - 100) = 10.25%

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Q:

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest

A) 3%	B) 4%
C) 5%	D) 6%

Answer & Explanation Answer: D) 6%

Explanation:

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = $(\frac{100 * 3000}{12500 * 4})$ % = 6%

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Q:

Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of Interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

A) 3.6	B) 6
C) 18	D) cannot be determined

Answer & Explanation Answer: B) 6

Explanation:

Let rate = R% and time = R years.

Then, $(\frac{1200 \times R \times R}{100}) = 432$

$12 R^{2} = 432$

=> R = 6.

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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

A) Only a is sufficient	B) Neither a nor b is sufficient
C) Only b is sufficient	D) Both a and b sufficient

Question :

What is the sum which earned interest ?

Statements :

a. The total simple interest was Rs. 9000 after 9 years.
b. The total of sum and simple interest was double of the sum after 6 years.

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Question : What is the sum which earned interest ? Statements : a. The total simple interest was Rs. 9000 after 9 years.b. The total of sum and simple interest was double of the sum after 6 years.

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Question :

What is the sum which earned interest ?

Statements :

a. The total simple interest was Rs. 9000 after 9 years.
b. The total of sum and simple interest was double of the sum after 6 years.