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Question Detail
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}
1. 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}
2. In how many years Rs 150 will produce the same interest at 8% as Rs. 800 produce in 3 years at 9/2%
- 8
- 9
- 10
- 11
Answer: Option B
Explanation:
Clue:
Firstly we need to calculate the SI with prinical 800,Time 3 years and Rate 9/2%, it will be Rs. 108
Then we can get the Time as
Time = (100*108)/(150*8) = 9
3. 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}
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. 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}
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