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Question Detail
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%
1. Sahil took a loan for 6 years at the rate of 5% per annum on Simple Interest, If the total interest paid was Rs. 1230, the principal was
- 4100
- 4200
- 4300
- 4400
Answer: Option A
Explanation:
\begin{aligned}
\text{S.I.} = \frac{P*R*T}{100} \\
=> P = \frac{S.I. * 100}{R*T}
\end{aligned}
By applying above formula we can easily solve this question, as we are already having the simple interest.
\begin{aligned}
=> P = \frac{1230 * 100}{6*5} \\
=> P = 4100
\end{aligned}
2. At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years
- 1%
- 2%
- 3%
- 4%
Answer: Option D
Explanation:
Let sum = x
Time = 10 years.
S.I = 2x /5, [as per question]
Rate =( (100 * 2x) / (x*5*10))%
=> Rate = 4%
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 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}
5. 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}
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