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

View Hint View Answer Discuss in Forum
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

View Hint View Answer Discuss in Forum
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

View Hint View Answer Discuss in Forum
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?

View Hint View Answer Discuss in Forum
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 ?

View Hint View Answer Discuss in Forum
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%