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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:

A sum fetched a total simple interest of Rs. 7728 at the rate of 7% per year in 8 years. What is the sum?

A) Rs 13800 B) Rs 16560
C) Rs 11040 D) Rs 8280
 
Answer & Explanation Answer: A) Rs 13800

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Q:

Simple interest on a sum for 18 months at 14% per annum is Rs 1365.What is the value (in Rs) of sum?

A) 6100 B) 7300
C) 8100 D) 6500
 
Answer & Explanation Answer: D) 6500

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4 1132
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 1127
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 1122
Q:

Sachin lent out Rs 60000 in two parts, first at 4% and the second at 10% interest. The yearly average interest comes out to be 6.4%. What are the amounts (in Rs) that were lent at 4% and 10% respectively?

 

A) 40000, 20000   B) 48000, 12000  
C) 36000, 24000   D) 32000, 28000
 
Answer & Explanation Answer: C) 36000, 24000  

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3 1110
Q:

A money lender lends Rs. 400 for 3 years to a person and lends Rs. 500 for 4 years to the other person at the same rate of simple interest. If altogether he receives Rs. 160 as interest, what is the rate of interest per annum ?

A) 5% B) 7%
C) 9% D) 10%
 
Answer & Explanation Answer: A) 5%

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3 1104
Q:

Deepinder lent Rs 8200 to Jairaj for 16 years and Rs 4900 to Karna for 15 years on simple interest at the same rate of interest and received Rs 19446.5 in all from both of them as interest. The rate of interest per annum is:

A) 10 percent B) 10.5 percent
C) 9.5 percent D) 11 percent
 
Answer & Explanation Answer: C) 9.5 percent

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4 1101
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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