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:

A sum fetched a total simple interest of Rs. 7056 at the rate of 8 percent per year in 7 years. What is the sum?

A) Rs 12600 B) Rs 15120
C) Rs 10080 D) Rs 7560
 
Answer & Explanation Answer: A) Rs 12600

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1552
Q:

Simple interest on a sum for six months at 5% per annum is Rs 65.5.What is the value (in Rs) of sum ?

A) 2600 B) 2620
C) 1320 D) 2880
 
Answer & Explanation Answer: B) 2620

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1547
Q:

A person borrows some money for 4 years at the rate of simple interest. If the ratio of principal and total interest is 5 : 1, then what is the rate ( in percentage) of interest?

A) 5 B) 25
C) 10 D) 20
 
Answer & Explanation Answer: A) 5

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1543
Q:

The difference between simple interest on a certain sum at the rate of 6% per annum for 5 years and 6 years is 25.8. What is the sum (in Rs)?

 

A) 480 B)  430
C) 258 D) 516
 
Answer & Explanation Answer: B)  430

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

3 1536
Q:

A certain bank offers 8% rate of interest on the 1st year and 9% on the 2nd year in a certain fixed deposit scheme. If Rs 17,658 are received after investing for 2 years in this scheme, then what was the amount (in Rs) invested?

A) 16000 B) 15000
C) 15500 D) 16500
 
Answer & Explanation Answer: B) 15000

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1516
Q:

The rate of simple interest per annum at which a sum of money double itself in 16 2/3 yrs is

A) 4% B) 5%
C) 6% D) 6.5%
 
Answer & Explanation Answer: C) 6%

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

1 1514
Q:

Each question contains Quantity I and Quantity II. Read the contents clearly and answer your questions accordingly.

Quantity I: The Sl on a certain sum of money for 3 years at 5% per annum is Rs 4800. Then the principle is?

Quantity II: The Cl on a certain sum of money for 2 years at 6% per annum is Rs. 3708. Then the principle is?

A) Quantity I > Quantity II B) Quantity I ≥ Quantity II
C) Quantity I < Quantity II D) Quantity I < Quantity II
 
Answer & Explanation Answer: A) Quantity I > Quantity II

Explanation:

Quantity I=15% of Principle=4800 

Principle=Rs.32000

Quantity II=12.36% of Principle =3708 

Principle=Rs.30000

Hence Quantity I > Quantity II 

 

 

Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest

1 1503
Q:

The simple and compound interest that can be earned in two years at the same rate is Rs 4000 and Rs 4180 respectively. What is the rate (percent per annum) of interest?

A) 18 B) 4.5
C) 9 D) 12
 
Answer & Explanation Answer: C) 9

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Simple Interest
Exam Prep: Bank Exams

2 1501