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 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:

A certain sum of money becomes 4 times of itself in 30 years at a rate of simple interest. In how many years it will become double of itself at the same rate of simple interest?

A) 20 B) 15
C) 10 D) 12
 
Answer & Explanation Answer: C) 10

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Q:

A sum of Rs. 4000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is Rs. 352. The sum lent at 8% is

A) Rs. 2900 B) Rs. 2200
C) Rs. 2400 D) Rs. 3100
 
Answer & Explanation Answer: C) Rs. 2400

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2 1484
Q:

For what sum will the simple interest at R% for 2 years will be R?

A) 100/2R B) 50/R
C) 100/R D) 200/R
 
Answer & Explanation Answer: C) 100/R

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0 1482
Q:

A sum of Rs 400 becomes Rs 448 at simple interest in 2 years. In how many years will the sum of Rs 550 amounts to Rs 682 at the same rate?

A) 2 B) 3
C) 3.5 D) 4
 
Answer & Explanation Answer: D) 4

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2 1481
Q:

Find the simple interest on Rs. 50 for 6 months at the rate of 10 paise per rupee per month.

A) Rs.35 B) Rs.40
C) Rs.25 D) Rs.30
 
Answer & Explanation Answer: D) Rs.30

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2 1481
Q:

A sum fetched a total simple interest of Rs. 7728 at the rate of 7% per year in 8 years. What is the sum?

A) Rs 13800 B) Rs 16560
C) Rs 11040 D) Rs 8280
 
Answer & Explanation Answer: A) Rs 13800

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5 1461
Q:

A sum fetched a total simple interest of Rs 5320 at the rate of 7% per year in 5 years. What is the sum?

A) Rs 18240 B) Rs 12160
C) Rs 15200 D) Rs 9120
 
Answer & Explanation Answer: C) Rs 15200

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2 1454
Q:

A sum of money becomes 77/50 of itself in 18/5 years when invested at simple interest. What is the rate (in percentage) of interest per annum?

A) 20 B) 18
C) 12 D) 15
 
Answer & Explanation Answer: D) 15

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3 1440