Simple Interest-I

SIMPLE INTEREST-I

->Formulae:-

Principal = P

Rate = R% per annum

Time = T years. Then,

•  Simple Interest(S.I)= (P*T*R)/100
•  Principal(P) = (100*S.I)/(R*T)
•  Rate(R) = (100*S.I)/(P*T)
•  Time(T) = (100*S.I)/(P*R)

1. 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. 650                                                                                      B. Rs. 690

C. Rs. 698                                                                                      D. Rs. 700

2. 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. 6500
C. Rs. 7200                                                                                    D. Rs. 7500
E. None of these

3. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?
A. Rs. 4462.50                                                                               B. Rs. 8032.50
C. Rs. 8900                                                                                    D. Rs. 8925
E. None of these

4. What is the present worth of Rs.320 due in 5 years @ 5% simple interest per annum?

a) 256                                                                                            b) 80
c) 240                                                                                            d) 400

5. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A. 3.5 years                                                                                    B. 4 years
C. 4.5 years                                                                                    D. 5 years

6. Reena 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?
A. 3.6                                                                                             B. 6
C. 18                                                                                              D. Cannot be determined
E. None of these

7. A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is
the rate of interest?
A. 3%                                                                                             B. 4%
C. 5%                                                                                             D. 6%
E. None of these

8. A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs. 100 at the end of 1 year. In order to clear his dues at the end of 2 years, he would pay:
A. Rs. 105                                                                                      B. Rs. 110
C. Rs. 115                                                                                      D. Rs. 115.50

9. An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:
A. 10%                                                                                           B. 10.25%
C. 10.5%                                                                                        D. None of these

10. 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:
A. 5%                                                                                             B. 7%
C. 8%                                                                                             D. 10%

Answers :-

1. C
2. A
3. D
4. A
5. B
6. B
7. D
8. C
9. B
10. D