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:

Calculate the simple interest if Rs. 1800 is invested for 10 years at a rate of 5% per annum.

A) Rs. 900 B) Rs. 450
C) Rs. 1800 D) Rs. 2700
 
Answer & Explanation Answer: A) Rs. 900

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

0 1277
Q:

Simple interest on a certain sum of money for 3 years at 16% per annum is half the compound interest on Rs. 12000 for 2 years at 10% per annum. The sum placed on simple interest is

A) Rs 5250 B) Rs 1325
C) Rs 2100 D) Rs 2625
 
Answer & Explanation Answer: D) Rs 2625

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1276
Q:

If a sum of money doubles itself in 8 yrs, then the interest rate in percentage is ?

A) 8 1⁄2% B) 10%
C) 10 1⁄2 % D) 12 1⁄2 %
 
Answer & Explanation Answer: D) 12 1⁄2 %

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1273
Q:

A sum of money invested for 2 yrs and 9 months at the rate of 8% simple interest per annum became Rs.732 at the end of the period. What was the sum that was initially invested?

A) Rs. 575 B) Rs. 500
C) Rs. 600 D) Rs. 550
 
Answer & Explanation Answer: C) Rs. 600

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

6 1272
Q:

A sum of money (P) doubles in 10 years. How much would it be in 20 years at the same rate of simple interest?

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

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1264
Q:

If in 2 years at simple interest the principal increases by 18%, what will be the compound interest (in Rs) earned on Rs 7000 in 3 years at the same rate?

A) 1865.2 B) 2065.2
C) 1965.2 D) 1765.2
 
Answer & Explanation Answer: B) 2065.2

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

1 1258
Q:

At 6% simple interest per annum a sum of money became Rs. 834 in 6.5 years. The sum initially invested was

A) Rs. 600 B) Rs. 626
C) Rs. 675 D) Rs. 650
 
Answer & Explanation Answer: A) Rs. 600

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

1 1258
Q:

A sum of Rs 800 becomes Rs 1000 in 2 years at simple interest. What is the per annum rate of interest (in percent)?

 

A) 12.5   B)  25  
C)  8.5   D)  17
 
Answer & Explanation Answer: A) 12.5  

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1251