Sawaal

 Simple Interest Questions

Popular Latest Rated Important Formulae

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=P×T×R100

(ii)  P=100×S.IR×T ; R=100×S.IP×T and T=100×S.IP×R

Q:

If there is a total of 104 weekly instalments and a third deposit, find: the total cost of the computer

A) 3932.55 B) 4932
C) 5932 D) 6932
 
Answer & Explanation Answer: A) 3932.55

Explanation:

Total cost = deposit + loan + interest
= 1231.67 + 2463.33 + 237.55
= $3932.55

Report Error

View Answer Report Error Discuss

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

0 2855
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) 5% B) 4%
C) 6% D) 7%
 
Answer & Explanation Answer: C) 6%

Explanation:

I=prt

Report Error

View Answer Report Error Discuss

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

0 2745
Q:

What will be the ratio of simple interest earned by certain amount at the same rate of interestfor 4 years and 6 years ?

A) 1:2 B) 2:1
C) 2:3 D) 3:2
 
Answer & Explanation Answer: C) 2:3

Explanation:

Let p be the principle amount

And R% be the rate of interest

Then, required ratio =P×4×R100P×6×R100 

 

⇒4PR6PR= 2:3

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: GRE , GATE , CAT , Bank Exams
Job Role: Bank PO , Bank Clerk

2 2738
Q:

The difference between the interests earned when Rs. P is invested for four years in a scheme offering 9% p.a. Simple interest and when the same sum (Rs P) is invested for two years in another scheme offering 12% p.a. simple interest, is Rs 480. What is the value of P?

A) 2000 B) 3500
C) 2500 D) 4000
 
Answer & Explanation Answer: D) 4000

Explanation:

p=(p*4*9)/100-(p*2*12)/100 = 480

=12p/100=480

p=4000

 

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest

0 2674
Q:

A man lent a sum of money at the rate of simple interest of 4%. If the interest for 8 years is Rs 340 less than the principal, the principal is

A) Rs 500 B) Rs 520
C) Rs 540 D) Rs 560
 
Answer & Explanation Answer: A) Rs 500

Explanation:

Rate = 4%

Time = 8 years

Simple Interest = PTR/100

= 32P/100

Given, P –32P/100 = 34068

P = 34000

P = 500

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest

3 2601
Q:

A sum becomes Rs 2286 in 3 years and Rs 2448 in 4 years at simple interest. What is the rate (in percentage) of interest per annum?

A) 10 B) 9
C) 8 D) 11
 
Answer & Explanation Answer: B) 9

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

5 2513
Q:

Ankita borrows Rs. 7000 at simple Interest from a lender. Atthe end of 3 years, she again borrows Rs. 3000 and settledthat amount after paying Rs. 4615 as interest after 8 years from the time she made the first borrowing. What is the rate of interest?

A) 5.5% B) 9.5%
C) 7.5% D) 6.5%
 
Answer & Explanation Answer: D) 6.5%

Explanation:

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest

1 2457
Q:

Simple Interest received by a person in 10 years on a principal of Rs 9500 is 130% of the principal. What is the rate of interest (in %) per annum?

A) 12 B) 13
C) 15 D) 19
 
Answer & Explanation Answer: B) 13

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

4 2395