Simple interest


  1. A sum was put at simple interest at a certain rate for 2 years . Had it been put at 3% higher rate, it would have fetched Rs 300 more. The sum is









  1. View Hint View Answer Discuss in Forum

    Let the sum be P.
    And the original rate be y% per annum.
    Then new rate=(y+3)% per annum
    According to question, [( P × ( y +3 ) × 2) / 100]=[(P × y × 2)/100]=300

    Correct Option: A

    Let the sum be P.
    And the original rate be y% per annum.
    Then new rate=(y+3)% per annum
    According to question, [(P × (y+3) × 2)/100]=[(P × y × 2)/100]=300
    ∴ [(Py + 3P)/100]=[Py/100] = 150
    ∴ Py+ 3P - Py=15000
    ∴ 3P=15000
    ∴ P= 5000
    Thus, the sum is Rs 5000


  1. The simple interest on a sum of money at 10% per annum for 6 year is half the sum. Then, the sum is ?









  1. View Hint View Answer Discuss in Forum

    Let the sum be Rs 'y'
    Since Simple Interest = Rs ( y / 2 )
    So Simple Interest ,SI= (P x R x T)/100
    where, R = Rate
    T = Time
    SI= Simple Interest

    Correct Option: B

    Let the sum be Rs 'y'
    Since Simple Interest = Rs ( y / 2)
    and, T = 6 yr , R = 10% per annum
    So Simple Interest, SI = (P x R x T)/100
    where, R = Rate
    T = Time
    SI= Simple Interest
    now, According to problem, ( y / 2 ) = ( y x 10 x 6)/100
    ⇒ (1/2)=(6/10)
    ⇒ which is not true, so it is not a possible case.



  1. The simple interest at x% for x years will be Rs x on a sum of ....









  1. View Hint View Answer Discuss in Forum

    As Sum = [( 100 x SI )/( Time x Rate)]

    Correct Option: C

    As Sum = [(100 x SI)/(Time x Rate)]
    here, let R =x%, T=x yr, and, SI=Rs x
    ∴ Sum=[(100 × x)/(x × x)]
    =(100/x)


  1. A certain sum lent out at simple interest amounts to Rs 575 in 3 yr and to Rs 625 in 5 yr. Then the rate of interest is ?









  1. View Hint View Answer Discuss in Forum

    Let the sum be Rs 'y' and , rate of interest = R%
    Simple Interest for 2 yr =Rs( 625 - 575) = Rs 50

    ∴ R= [(100 x SI)/(Sum x Time)]

    Correct Option: B

    Let the sum be Rs 'y' and , rate of interest = R%
    Simple Interest for 2 yr =Rs( 625 - 575 ) = Rs 50
    ∴ Sum of money, y=Rs( 575 - 75)= Rs 500

    ∴ R= [(100 x SI)/(Sum x Time)]
    =[(100x 75)/(500 x 3)]=5 %



  1. The simple interest on a sum of money is 1/9 of the principle and the number of years is equal to the rate percent annum. The rate percent annum is ?









  1. View Hint View Answer Discuss in Forum

    Let principle = Rs. P
    Then S.I = P/9
    Let Rate = R% per annum and time = R years

    Then, as we know SI = (P x R x T) / 100.

    Correct Option: C

    Let principle = Rs. P
    Then S.I = P/9
    Let Rate = R% per annum and time = R years

    Then, as we know SI = (P x R x T) / 100.
    ⇒ P/9 = ( P x R x R) / 100
    ⇒ R2 = 100/9
    ∴ R = 10/3 = 31/3 % per annum