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Question Detail
A man took a loan at rate of 12% per annum simple interest. After 3 years he had to pay 5400 interest. The principal amount borrowed by him was.
- Rs 14000
- Rs 15000
- Rs 16000
- Rs 17000
Answer: Option B
Explanation:
\begin{aligned}
\text{S.I.} = \frac{P*R*T}{100} \\
=> P = \frac{S.I. * 100}{R*T} \\
=> P = \frac{5400 * 100}{12*3} = Rs 15000
\end{aligned}
1. Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years.
- Rs 1052
- Rs 1152
- Rs 1252
- Rs 1352
Answer: Option A
Explanation:
S.I. = 956 - 800 = Rs 156
\begin{aligned}
R = \frac{156*100}{800*3} \\
R = 6\frac{1}{2}\% \\
\text{ New Rate = }6\frac{1}{2}+4 \\
= \frac{21}{2} \% \\
\text{ New S.I. = }800\times\frac{21}{2}\times{3}{100} \\
= 252
\end{aligned}
Now amount will be 800 + 252 = 1052
2. Find the simple interest on the Rs. 2000 at 25/4% per annum for the period from 4th Feb 2005 to 18th April 2005
- Rs 25
- Rs 30
- Rs 35
- Rs 40
Answer: Option A
Explanation:
One thing which is tricky in this question is to calculate the number of days.
Always remember that the day on which money is deposited is not counted while the day on which money is withdrawn is counted.
So lets calculate the number of days now,
Time = (24+31+18) days = 73/365 years = 1/5 years
P = 2000
R = 25/4%
\begin{aligned}
\text{ S.I. = } = \frac{2000 \times 25 }{4 \times 5 \times 100} = 25
\end{aligned}
3. There was simple interest of Rs. 4016.25 on a principal amount at the rate of 9%p.a. in 5 years. Find the principal amount
- Rs 7925
- Rs 8925
- Rs 7926
- Rs 7925
Answer: Option B
Explanation:
\begin{aligned}
P = \frac{S.I. * 100}{R*T}
\end{aligned}
So by putting values from our question we can get the answer
\begin{aligned}
P = \frac{4016.25 * 100}{9*5} \\
= 8925
\end{aligned}
4. A sum of money amounts to Rs 9800 after 5 years and Rs 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is
- 9%
- 10%
- 11%
- 12%
Answer: Option D
Explanation:
We can get SI of 3 years = 12005 - 9800 = 2205
SI for 5 years = (2205/3)*5 = 3675 [so that we can get principal amount after deducting SI]
Principal = 12005 - 3675 = 6125
So Rate = (100*3675)/(6125*5) = 12%
5. A lent Rs. 5000 to B for 2 years and Rs 3000 to C for 4 years on simple interest at the same rate of interest and received Rs 2200 in all from both of them as interest. The rate of interest per annum is
- 9%
- 10%
- 11%
- 12%
Answer: Option B
Explanation:
Let R% be the rate of simple interest then,
from question we can conclude that
\begin{aligned}
(\frac{5000*R*2}{100}) + (\frac{3000*R*4}{100}) = 2200 \\
<=> 100R + 120R = 2200 \\
<=> R = 10\%
\end{aligned}
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