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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%

Similar Questions :

1. If A lends Rs. 3500 to B at 10% p.a. and B lends the same sum to C at 11.5% p.a., then the gain of B (in Rs.) in a period of 3 years is

  • Rs. 154.50
  • Rs. 155.50
  • Rs. 156.50
  • Rs. 157.50

Answer: Option D

Explanation:

We need to calculate the profit of B.
It will be,
SI on the rate B lends - SI on the rate B gets

Gain of B=3500×11.5×3100−3500×10×3100=157.50

2. Sachin borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends money to Rahul at 25/4% p.a. for 2 years. Find the gain of one year by Sachin.

  • 110.50
  • 111.50
  • 112.50
  • 113.50

Answer: Option C

Explanation:

Two things need to give attention in this question, First we need to calculate gain for 1 year only.
Second, where we take money at some interest and lends at other, then we use to subtract each other to get result in this type of question. Lets solve this Simple Interest question now.

Gain in 2 year = [(5000×254×2100)−(5000×4×2100)]=(625−400)=225 So gain for 1 year = 2252=112.50

3. 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Always remember that the day on which money is deposited is not counted while the day on which money is withdrawn is counted.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%

 S.I. = =2000×254×5×100=25

4. If a sum of money doubles itself in 8 years at simple interest, the ratepercent per annum is

  • 12
  • 12.5
  • 13
  • 13.5

Answer: Option B

Explanation:

Let sum = x then Simple Interest = x

Rate = (100 * x) / (x * 8) = 12.5

5. A sum of money at simple interest amounts to Rs. 2240 in 2 years and to Rs. 2600 in 5 years. What is the principal amount

  • 1000
  • 1500
  • 2000
  • 2500

Answer: Option C

Explanation:


SI for 3 year = 2600-2240 = 360
SI for 2 year 360/3 * 2 = 240
principal = 2240 - 240 = 2000

Read more from - Simple Interest Questions Answers
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