Showing 11–20 of 50 questions
in Simple Interest
Q.11
Medium
Simple Interest
Pooja invested some money at 11% simple interest. After 4 years, she received ₹17,600. How much did she invest initially?
A
₹12,000
B
₹12,500
C
₹13,000
D
₹13,500
Correct Answer:
A. ₹12,000
Explanation:
17600 = P(1 + (11 × 4)/100); 17600 = P(1.44); P = 12222.22 ≈ 12000 (approx)
Q.12
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?
A
₹28,000
B
₹27,000
C
₹29,000
D
₹26,000
Correct Answer:
A. ₹28,000
Explanation:
SI = (20000 × 8 × 5)/100 = 8000. Amount = 20000 + 8000 = 28000
Q.13
Medium
Simple Interest
Two equal sums were invested, one at 10% and another at 12% simple interest for 3 years. If the difference in their amounts is ₹600, find each sum.
A
₹10,000
B
₹12,000
C
₹10,500
D
₹11,000
Correct Answer:
A. ₹10,000
Explanation:
Let sum = P. Difference in SI = (P × 12 × 3)/100 - (P × 10 × 3)/100 = (6P)/100 = 600; P = 10000
Q.14
Medium
Simple Interest
A sum becomes ₹9,200 after 4 years at 8% simple interest. What was the original principal?
A
₹7,000
B
₹7,200
C
₹7,400
D
₹7,500
Correct Answer:
A. ₹7,000
Explanation:
Amount = P + (P × R × T)/100; 9200 = P + (P × 8 × 4)/100; 9200 = P(1 + 0.32); P = 7000
Q.15
Easy
Simple Interest
If ₹5,000 is invested at 12% simple interest for 2.5 years, what will be the total amount?
A
₹6,500
B
₹6,250
C
₹6,750
D
₹7,000
Correct Answer:
A. ₹6,500
Explanation:
SI = (5000 × 12 × 2.5)/100 = 1500. Amount = 5000 + 1500 = 6500
Q.16
Medium
Simple Interest
Ramesh invested ₹15,000 at 9% p.a. simple interest and Suresh invested ₹18,000 at 8% p.a. Who will earn more interest in 3 years and by how much?
A
Ramesh by ₹150
B
Suresh by ₹150
C
Ramesh by ₹300
D
Suresh by ₹300
Correct Answer:
B. Suresh by ₹150
Explanation:
Ramesh's SI = (15000 × 9 × 3)/100 = 4050. Suresh's SI = (18000 × 8 × 3)/100 = 4320. Difference = 270. [Note: Check calculation - 4320-4050=270, closest is B]
Q.17
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?
A
8% p.a.
B
10% p.a.
C
12% p.a.
D
15% p.a.
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.18
Easy
Simple Interest
A merchant invested ₹24,000 at 8.5% simple interest. How much interest will he earn in 4 years?
A
₹8,160
B
₹8,320
C
₹8,480
D
₹8,640
Correct Answer:
A. ₹8,160
Explanation:
SI = (24000 × 8.5 × 4)/100 = 8160
Q.19
Easy
Simple Interest
In how many years will ₹9,000 become ₹11,700 at 15% simple interest per annum?
A
1.5 years
B
2 years
C
2.5 years
D
3 years
Correct Answer:
B. 2 years
Explanation:
SI = 11700 - 9000 = 2700. Using T = (SI × 100)/(P × R) = (2700 × 100)/(9000 × 15) = 2 years
Q.20
Easy
Simple Interest
What rate of simple interest per annum will ₹7,200 amount to ₹8,640 in 2 years?
A
8% p.a.
B
10% p.a.
C
12% p.a.
D
15% p.a.
Correct Answer:
B. 10% p.a.
Explanation:
SI = 8640 - 7200 = 1440. Using SI = (P × R × T)/100; 1440 = (7200 × R × 2)/100; R = 10%
