Showing 1–10 of 19 questions
in Simple Interest
Q.1
Easy
Simple Interest
At what rate will ₹4,000 earn ₹800 as simple interest in 2 years?
Correct Answer:
A. 10% p.a.
Explanation:
Using SI = (P × R × T)/100; 800 = (4000 × R × 2)/100; R = 10% p.a.
Q.2
Easy
Simple Interest
A lends ₹20,000 to B at 8% simple interest per annum. If B returns the total amount after 5 years, how much will B pay?
Correct Answer:
A. ₹28,000
Explanation:
SI = (20000 × 8 × 5)/100 = 8000. Amount = 20000 + 8000 = 28000
Q.3
Easy
Simple Interest
If ₹5,000 is invested at 12% simple interest for 2.5 years, what will be the total amount?
Correct Answer:
A. ₹6,500
Explanation:
SI = (5000 × 12 × 2.5)/100 = 1500. Amount = 5000 + 1500 = 6500
Q.4
Easy
Simple Interest
A sum of money at simple interest becomes double of itself in 10 years. At what rate per annum is the interest charged?
Correct Answer:
B. 10% p.a.
Explanation:
If amount = 2P, then SI = P. Using P = (P × R × 10)/100; 100 = 10R; R = 10% p.a.
Q.5
Easy
Simple Interest
A merchant invested ₹24,000 at 8.5% simple interest. How much interest will he earn in 4 years?
Correct Answer:
A. ₹8,160
Explanation:
SI = (24000 × 8.5 × 4)/100 = 8160
Q.6
Easy
Simple Interest
In how many years will ₹9,000 become ₹11,700 at 15% simple interest per annum?
Correct Answer:
B. 2 years
Explanation:
SI = 11700 - 9000 = 2700. Using T = (SI × 100)/(P × R) = (2700 × 100)/(9000 × 15) = 2 years
Q.7
Easy
Simple Interest
What rate of simple interest per annum will ₹7,200 amount to ₹8,640 in 2 years?
Correct Answer:
B. 10% p.a.
Explanation:
SI = 8640 - 7200 = 1440. Using SI = (P × R × T)/100; 1440 = (7200 × R × 2)/100; R = 10%
Q.8
Easy
Simple Interest
A sum becomes ₹5,500 in 3 years and ₹6,000 in 5 years at simple interest. Find the principal amount.
Correct Answer:
A. ₹4,000
Explanation:
SI for 2 years = 6000 - 5500 = 500. SI per year = 250. SI for 3 years = 750. Principal = 5500 - 750 = 4000
Q.9
Easy
Simple Interest
Arun invested some money at 14% simple interest for 5 years and earned ₹2800 as interest. If he had invested the same amount at 10% per annum for the same period, how much interest would he have earned?
Correct Answer:
B. ₹2000
Explanation:
Step 1: From first investment, 2800 = (P × 14 × 5) / 100 = 0.7P.
Step 2: P = 2800 / 0.7 = ₹4000.
Step 3: At 10% for 5 years, SI = (4000 × 10 × 5) / 100 = 200000 / 100 = ₹2000.
Q.10
Easy
Simple Interest
Priya invested ₹12000 at 8% simple interest per annum. In how many years will the interest earned be equal to the principal?
Correct Answer:
D. 12.5 years
Explanation:
Step 1: We need SI = P, so SI = ₹12000.
Step 2: Using SI = (P × R × T) / 100, we get 12000 = (12000 × 8 × T) / 100.
Step 3: 12000 = 960T, therefore T = 12000 / 960 = 12.5 years.