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 Simple Interest Questions

Popular Latest Rated Important Formulae

FACTS  AND  FORMULAE  FOR  SIMPLE  INTEREST  QUESTIONS

 

 

1. Principal: The money borrowed or lent out for a certain period is called the principal or the sum.

 

2. Interest: Extra money paid for using other's money is called interest

 

3. Simple Interest (S.I.) : If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called simple interest.

Let Principal = P, Rate = R% per annum (p.a.) and Time = T years. Then,

(i)  S.I=P×T×R100

(ii)  P=100×S.IR×T ; R=100×S.IP×T and T=100×S.IP×R

Q:

There is 40% increase in an amount in 10 years at simple interest. What will be the compound interest of Rs. 30000 after 3 years at the same rate?

A) Rs 3745.92 B) Rs 7491.84
C) Rs 9364.8 D) Rs 5618.88
 
Answer & Explanation Answer: A) Rs 3745.92

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0 1680
Q:

A sum of Rs 400 becomes Rs 448 at simple interest in 2 years. In how many years will the sum of Rs 550 amounts to Rs 682 at the same rate?

A) 2 B) 3
C) 3.5 D) 4
 
Answer & Explanation Answer: D) 4

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2 1676
Q:

A sum of Rs 1200 amounts to Rs 1740 in 3 years at simple interest. If rate of interest is increased by 3%, then what will be the new amount (in Rs)?

A) 1848 B) 1946
C) 1812 D) 1924
 
Answer & Explanation Answer: A) 1848

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2 1673
Q:

For what sum will the simple interest at R% for 2 years will be R?

A) 100/2R B) 50/R
C) 100/R D) 200/R
 
Answer & Explanation Answer: C) 100/R

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0 1673
Q:

A sum of Rs. 4000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is Rs. 352. The sum lent at 8% is

A) Rs. 2900 B) Rs. 2200
C) Rs. 2400 D) Rs. 3100
 
Answer & Explanation Answer: C) Rs. 2400

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2 1670
Q:

If the time increases by 7 years, then simple interest increases by Rs 8400 on a sum of Rs 6000. What is the rate (in percentage) of interest per annum?

A) 18 B) 12
C) 20 D) 24
 
Answer & Explanation Answer: C) 20

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3 1662
Q:

A sum becomes Rs 8800 in 4 years at simple interest at the yearly interest rate of 25% per annum. What is the sum (in Rs)?

 

A) 4400 B) 6600
C) 7040 D) 6400
 
Answer & Explanation Answer: A) 4400

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0 1651
Q:

A sum of money becomes 77/50 of itself in 18/5 years when invested at simple interest. What is the rate (in percentage) of interest per annum?

A) 20 B) 18
C) 12 D) 15
 
Answer & Explanation Answer: D) 15

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3 1646