Simple interest


  1. A certain sum becomes 8 fold in 15 yr at simple interest. What will be the rate interest ?









  1. View Hint View Answer Discuss in Forum

    Let sum = p
    Then, after 15 yr
    Sum = 8p

    ∴ SI = 8p - P = 7P
    Now, 7P = (P x R x 15)/100

    Correct Option: B

    Let sum = p
    Then, after 15 yr
    Sum = 8p

    ∴ SI = 8p - P = 7P
    Now, 7P = (P x R x 15)/100
    ⇒ 7 = 15R/100 = 3R/20
    ∴ R = (20 x 7)/3 = 140/3
    = 462/3%


  1. How long will a sum of money invested at 5% per annum SI take to increase its value by 50%











  1. View Hint View Answer Discuss in Forum

    Let sum be P.
    ∴ 50% of P = P/2 = SI
    Now, P/2 = (P x 5 x T) / 100 [ as time = 10 yr]

    Correct Option: A

    Let sum be P.
    ∴ 50% of P = P/2 = SI
    Now, P/2 = (P x 5 x T) / 100 [ as time = 10 yr]
    ⇒ P/2 = 5PT / 100
    ⇒ 1/2 = T/20
    ∴ = T = 10 yr



  1. The sum required to earn a monthly interest of Rs 400 at 10 % per annum at simple interest is









  1. View Hint View Answer Discuss in Forum

    Simple Interest =(Principal × Rate × Time)/100

    Correct Option: D

    Total interest needed in a year = Rs 400 × 12
    = Rs 4800
    Principal = (100 × SI)/R × T
    where, R = Rate
    T = Time
    SI= Simple Interest


  1. Find the difference in amount and principal for ₹ 4000 at the rate of 5% annual interest in 4 yr.











  1. View Hint View Answer Discuss in Forum

    According to the formula. SI = (P x R x T) /100

    Correct Option: D

    The required difference in amount and principal is SI = A - P
    Here, P = ₹ 4000, R = 5% T = 4 yr
    According to the formula.
    SI = (P x R x T) /100
    = (4000 x 5 x 4)/100
    = ₹ 800



  1. A sum of ₹ 2668 amount to ₹ 4669 in 5 yr at the rate of simple interest . Find the rate per cent.









  1. View Hint View Answer Discuss in Forum

    Here, P = ₹ 2668, T = 5 yr, A = ₹ 4669
    We know that,
    Amount (A) = Principal (P) + (Simple Interest) SI
    4669 = 2668 + SI
    ⇒ SI = 4669 - 2668 = ₹ 2001
    Again, SI = (P x R x T)/100

    Correct Option: D

    Here, P = ₹ 2668, T = 5 yr, A = ₹ 4669
    We know that,
    Amount (A) = Principal (P) + (Simple Interest) SI
    4669 = 2668 + SI
    ⇒ SI = 4669 - 2668 = ₹ 2001
    Again, SI = (P x R x T)/100
    ∴ 2001 = (2668 x R x 5)/100
    ⇒ R= (2001 x 100) / (2668 x 5)
    = (2001 x 5)/667
    = 15%