Simpleintrest questions and answers

SIMPLEINTREST
QUESTIONS AND
ANSWERS

1) A principle amount Rs12,500 becomes Rs 15,500 in
3years at the rate of ------- simple interest?
Ans:-
Total interest = Rs. (15500 - 12500) = Rs. 3000.
Interest Rate = [ (100 × 3000) / (12500 × 3) ] % = 8
%.

2) A sum fetched a total simple interest of Rs. 116.25
at the rate of 11 p.c.p.a. in 5 years. What is the sum?
Ans:-
Principal = Rs. [(100 × 116.25) / (11 × 5) ] = Rs.
( 11625 / 55 ) = Rs. 211 .

3) A sum of money lent out at simple interest amount
to Rs. 820 after 2 years and to Rs. 1200 after a further
period of 5 years. The sum is?
Ans:-
• Simple interest for 5 years = Rs. (1200 -820) =
Rs. 380.
• Simple interest for 2 years = Rs. ( 380/5 × 2) = Rs.
152.
• ∴ Principal = Rs. (820 - 120) = Rs. 700.

4) A sum of money at simple interest amounts to Rs.
8150 in 3 years and to Rs. 8540 in 4 years. The sum is?
Ans:-
• Simple interest for 1 year   =    Rs. (8540 - 8150)
=    Rs.  390.
• Simple interest for 3 year      =    Rs. (390 × 3) = Rs.
1170.
• So, Principal amount     =   Rs.  (8150 - 1170)       =
Rs. 6980.

5) A sum of Rs. 2800 gives a simple interest of Rs. 462
in 2 years and 4 months. The rate of interest per
annum is?
Ans:-
Time = 2 years 4 months = 2 1/3 years = 7/3 years.
Rate = [ (100 × 462 × 3)/(2800 × 7) ] % = 7 % .

6) Calculate the simple interest earned on an amount
of Rs. 2,00,800 in 9 months at the rate of 7 1/4 % p.a.
?
Ans:-
• Here 9 months = 3/4 year.
• ∴ S.I. = Rs. [ 200800 × 29/4 × 3/4 × 1/100 ] =
Rs. 10918.5.

7) Calculate the  simple interest on Rs. 27,500 from
March 9, 2003 to May 21, 2003 at 8 1/2 % rate will
be?
Ans:-
Time  =   (22 + 30 + 21)   =    73 days  =   1/5 year.
Simple interest = Rs.  [ 27500 × 17/2 × 1/5 × 1/100 ] =
Rs. 467.50.

8) Find the time needed to get 81rs as interest, where
450rs is capital and 4.5% is the rate of interest?
Ans:-
Time needed = [ (100 × 81) / (450 × 4.5) ] years
= 4 years.

9) If the annual rate of simple interest increases from
10% to 12 1/2 % , Rohan’s yearly income increases by
Rs. 1250. Find his principal amount (in Rs.) ?
Ans:-
Let the sum = Rs. S.
Then,
S × 25/2 × 1/100 - (S × 10 × 1)/100    =   1250
↔    25S - 20S    =    250000    ↔    5S = 250000     ↔
   S = 50000.

10) In how many years will a sum of principal amount
double itself at 15% per annum?
Ans:-
Let sum = C.
Then, S.I = C.
∴ Time = [ (100 × S.I.) / (P × R) ] = [ (100 × C) /
(C × 15) ] = 6 2/3 years.

Simpleintrest questions and answers

More Related Content

Similar to Simpleintrest questions and answers (20)

More from Mydear student (19)

Recently uploaded (20)

Simpleintrest questions and answers