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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.5,400 at the rate of 12.5 %/yr in 4 years. What is the sum (in Rs)?

A) 11800 B) 12800
C) 9800 D) 10800
 
Answer & Explanation Answer: D) 10800

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Q:

Simple interest on a sum of Rs 1400 for 3 years and 4 months is Rs 700. What is the rate (in percentage) of interest per annum?

A) 17 B) 15
C) 18 D) 12
 
Answer & Explanation Answer: B) 15

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3 1489
Q:

A sum becomes Rs 1392 in 2 years and Rs 1488 in 3 years at simple interest. What is the rate (in percentage) of interest per annum?

A) 8 B) 10
C) 12 D) 8.5
 
Answer & Explanation Answer: A) 8

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1 1482
Q:

On a certain Principal if the Simple interest for two years is Rs 4800 and Compound interest for the two years is Rs 5088, what is the rate of Interest?

A) 6 percent B) 24 percent
C) 12 percent D) 18 percent
 
Answer & Explanation Answer: C) 12 percent

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2 1479
Q:

Dev lent Rs. 8000 to Jairam for 17 years and Rs. 4700 to Karnik for 16 years on simple interest at the same rate of interest and received Rs. 21120 in all from both of them as interest. The rate of interest per annum is:

A) 10.5 percent B) 10 percent
C) 11 percent D) 11.5 percent
 
Answer & Explanation Answer: B) 10 percent

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0 1479
Q:

If in 3 years at simple interest the principal increases by 18%, what will be the compound interest (in Rs) earned on Rs. 25,000 in 3 years at the same rate?

A) 4775.4 B) 5774.4
C) 4557.4 D) 5575.4
 
Answer & Explanation Answer: A) 4775.4

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3 1476
Q:

Ram lent Rs. 6,000/- to Shiva for 3 years and Rs. 8,000/- to Krishna for 5 years at the same rate of simple interest per annum. He got a total interest of Rs. 5,220 from both. Find the rate of interest per annum.

A) 6% B) 7%
C) 8% D) 9%
 
Answer & Explanation Answer: D) 9%

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6 1468
Q:

A sum of Rs. 1200 is lent to be paid back in 5 equal annual installments of Rs. 264 each. The rate of interest per annum is

A) 6% B) 8%
C) 2% D) 4%
 
Answer & Explanation Answer: C) 2%

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3 1467