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Question Detail
At 5% per annum simple interest, Rahul borrowed Rs. 500. What amount will he pay to clear the debt after 4 years
- 750
- 700
- 650
- 600
Answer: Option D
Explanation:
We need to calculate the total amount to be paid by him after 4 years, So it will be Principal + simple interest.
So,
\begin{aligned}
=> 500 + \frac{500*5*4}{100}
=> Rs. 600
\end{aligned}
1. Find the rate at Simple interest, at which a sum becomes four times of itself in 15 years.
- 10%
- 20%
- 30%
- 40%
Answer: Option B
Explanation:
Let sum be x and rate be r%
then, (x*r*15)/100 = 3x [important to note here is that simple interest will be 3x not 4x, beause 3x+x = 4x]
=> r = 20%
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.
\begin{aligned}
\text{Gain in 2 year = } \\
[(5000 \times \frac{25}{4} \times \frac{2}{100})-(\frac{5000 \times 4 \times 2}{100})] \\
= (625 - 400) = 225 \\
\text{ So gain for 1 year = }\\
\frac{225}{2} = 112.50
\end{aligned}
3. 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}
4. Reema took a loan of Rs 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest.
- 5%
- 6%
- 7%
- 8%
Answer: Option B
Explanation:
Let rate = R% then Time = R years.
\begin{aligned}
=> \frac{1200*R*R}{100}=432 \\
=> R^2 = 36 \\
=> R = 6\%
\end{aligned}
5. At 5% per annum simple interest, Rahul borrowed Rs. 500. What amount will he pay to clear the debt after 4 years
- 750
- 700
- 650
- 600
Answer: Option D
Explanation:
We need to calculate the total amount to be paid by him after 4 years, So it will be Principal + simple interest.
So,
\begin{aligned}
=> 500 + \frac{500*5*4}{100}
=> Rs. 600
\end{aligned}
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