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Question Detail
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%
1. 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Always remember that the day on which money is deposited is not counted while the day on which money is withdrawn is counted.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}
2. The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs. 840. At what rate of intrest the same amount of interest can be received on the same sum after 5 years.
- 5%
- 6%
- 7%
- 8%
Answer: Option D
Explanation:
Here firstly we need to calculate the principal amount, then we can calculate the new rate.
\begin{aligned}
P = \frac{S.I. * 100}{R*T} \\
P = \frac{840 * 100}{5*8} \\
P = 2100 \\
\text{Required Rate = } \frac{840 * 100}{5*2100} \\
R = 8\%\\
\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. A sum of Rs 12,500 amounts to Rs. 15,500 in the 4 years at the rate of simple interest. Find the rate percent
- 6 %
- 7 %
- 8 %
- 9 %
Answer: Option A
Explanation:
\begin{aligned}
\text{S.I.} = \frac{P*R*T}{100} \\
=> R = \frac{S.I. * 100}{P*T}
\end{aligned}
So, S.I = 15500 - 12500 = 3000.
\begin{aligned}
=> R = \frac{3000 * 100}{12500*4} = 6\%
\end{aligned}
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
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