1. How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A. 2 years
B. 3 years
C. 1 year
D. 4 years
2. Arun took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If he paid Rs.686 as interest at the end of the loan period, what was the rate of interest?
A. 8%
B. 6%
C. 4%
D. 7%
3. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is :
A. Rs. 700
B. Rs. 690
C. Rs. 650
D. Rs. 698
4. A sum fetched a total simple interest of Rs. 929.20 at the rate of 8 p.c.p.a. in 5 years. What is the sum?
A. Rs. 2323
B. Rs. 1223
C. Rs. 2563
D. Rs. 2353
5. Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?
A. Rs. 6400
B. Rs. 7200
C. Rs. 6500
D. Rs. 7500
A. 2 years
B. 3 years
C. 1 year
D. 4 years
Answer : Option A
Explanation :
P = Rs.900
SI = Rs.81
T = ?
R = 4.5%
T= 100×SIPR=100×81900×4.5=2 years
SI = Rs.81
T = ?
R = 4.5%
2. Arun took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If he paid Rs.686 as interest at the end of the loan period, what was the rate of interest?
A. 8%
B. 6%
C. 4%
D. 7%
Answer : Option D
Explanation :
Let rate = R%
Then, Time, T = R years
P = Rs.1400
SI = Rs.686
SI= PRT100⇒686 = 1400 × R × R100⇒686=14 R2⇒49=R2⇒R=7
i.e.,Rate of Interest was 7%
Then, Time, T = R years
P = Rs.1400
SI = Rs.686
i.e.,Rate of Interest was 7%
3. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is :
A. Rs. 700
B. Rs. 690
C. Rs. 650
D. Rs. 698
Answer : Option D
Explanation :
Simple Interest (SI) for 1 year = 854-815 = 39
Simple Interest (SI) for 3 years = 39 × 3 = 117
Principal = 815 - 117 = Rs.698
Simple Interest (SI) for 3 years = 39 × 3 = 117
Principal = 815 - 117 = Rs.698
A. Rs. 2323
B. Rs. 1223
C. Rs. 2563
D. Rs. 2353
Answer : Option A
Explanation :
SI = Rs.929.20
P = ?
T = 5 years
R = 8%
P = 100×SIRT=100×929.208×5 = Rs.2323
P = ?
T = 5 years
R = 8%
5. Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?
A. Rs. 6400
B. Rs. 7200
C. Rs. 6500
D. Rs. 7500
Answer : Option A
Explanation :
Let the investment in scheme A be Rs.x
and the investment in scheme B be Rs.(13900 - x)
We know that SI = PRT100Simple Interest for Rs.x in 2 years at 14% p.a. = x×14×2100=28x100Simple Interest for Rs.(13900 - x) in 2 years at 11% p.a. = (13900−x)×11×2100=22(13900−x)100Total interest = Rs.350828x100+22(13900−x)100=350828x+305800−22x=3508006x=45000x=450006=7500
Investment in scheme B = 13900 - 7500 = Rs.6400
and the investment in scheme B be Rs.(13900 - x)
Investment in scheme B = 13900 - 7500 = Rs.6400
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