Simple interest
- Mohan lends Rs. 500 to John and a certain sum to Tom at the same time at a simple interest of 8% per annum. If in 4 years, he altogether receives Rs. 210 as interest from the two, then the sum of money he lent to Tom was
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Let the money lent to Tom be Rs. p.
As we know that ,Simple interest = Principal × Time × Rate 100 ∴ 500 × 8 × 4 + p × 8 × 4 = 210 100 100 ⇒ 160 + 32p = 210 100 32p = 210 - 160 = 50 100
Correct Option: C
Let the money lent to Tom be Rs. p.
As we know that ,Simple interest = Principal × Time × Rate 100 ∴ 500 × 8 × 4 + p × 8 × 4 = 210 100 100 ⇒ 160 + 32p = 210 100 32p = 210 - 160 = 50 100 ⇒ p = 50 × 100 = Rs. 156.25 32
- What should be the least number of years in which the simple interest
on Rs. 2600 at 6 2 % will be an exact number of rupees ? 3
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Given that ,
Rate = 20 % Per annum 3
As we know that ,S.I = Principal × Time × Rate 100
Correct Option: A
Given that ,
Rate = 20 % Per annum 3
As we know that ,S.I = Principal × Time × Rate 100 SI = 2600 × 20 × T 3 × 100
∴ Required Time = 3 years
- If A borrowed Rs. P at x% and B borrowed Rs. Q (> P) at y% per annum at simple interest at the same time, then the amount of their debts will be equal after
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Let amounts be equal in T years.
We can find the SI with the help of given formula ,S.I = Principal × Time × Rate 100 ∴ P + P × x × T = Q + Q × y × T 100 100 ⇒ PxT - QyT = Q - P 100 100 ⇒ T 
Px - Qy 
Q - P 100
Correct Option: A
Let amounts be equal in T years.
We can find the SI with the help of given formula ,S.I = Principal × Time × Rate 100 ∴ P + P × x × T = Q + Q × y × T 100 100 ⇒ PxT - QyT = Q - P 100 100 ⇒ T Px - Qy Q - P 100 ⇒ T = 100 Q - P Px - Qy
- A money lender claims to lend money at the rate of 10% per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money actually?
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Let the principal be Rs. 100
Interest = Rs. 10
Actual principal = Rs. 90
∵ Interest on Rs. 90 = Rs. 10∴ Interest on Rs. 100 = 10 × 100 90
Correct Option: D
Let the principal be Rs. 100
Interest = Rs. 10
Actual principal = Rs. 90
∵ Interest on Rs. 90 = Rs. 10∴ Interest on Rs. 100 = 10 × 100 90 Interest on Rs. 100 = 100 = 11 1 % 9 9
- 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 ?
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We can find the required answer with the help of given formula ,
SI = P × R × T 100
According to question ,160 = 400 × 3 × r + 500 × 4 × r 100 100
Correct Option: A
We can find the required answer with the help of given formula ,
SI = P × R × T 100
According to question ,160 = 400 × 3 × r + 500 × 4 × r 100 100
⇒ r(12 + 20) = 160
⇒ 32r = 160
⇒ r = 5%
