Simple interest


  1. Simple interest for the sum of ₹ 1230 for 2 yr is ₹ 10 more than the simple interest for ₹ 1130 for the same duration. Find the rate of interest.
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  1. View Hint View Answer Discuss in Forum

    According to the question,
    [(1230 x 2 x R)/100] - [(1130 x 2 x R)/100] = 10

    Correct Option: A

    According to the question,
    [(1230 x 2 x R)/100] - [(1130 x 2 x R)/100] = 10
    ⇒ (200 x R)/100 = 10
    ∴ R = 5%


  1. For a certain sum, the simple interest in 2 yr at 8% per annum is ₹ 110 more than the simple interest in 1 yr at the ratio of 5% per annum for the same sum. Find the sum.









  1. View Hint View Answer Discuss in Forum

    Given, SI1 - SI2 = 110,
    T1 = 2 Yr,
    T2 = 1 yr, R1 = 8%, R2 = 5%

    According to the question,
    [(P x 8 x 2)/100] - [(P x 5 x 1)/100] = 110

    Correct Option: B

    Given, SI1 - SI2 = 110,
    T1 = 2 Yr,
    T2 = 1 yr, R1 = 8%, R2 = 5%

    According to the question,
    [(P x 8 x 2)/100] - [(P x 5 x 1)/100] = 110
    ⇒ 11P/100 = 110
    ∴ P = ₹ 1000



  1. A sum was invested for 4 yr at a certain rate of simple interest. If it had been invested at 2% more annual rate of interest, then ₹ 56 more would have been obtained. What is the sum ?











  1. View Hint View Answer Discuss in Forum

    According to the question
    [P x (R + 2) x 4]/100 - [P x R x 4]/100 = 56
    ⇒ (4PR + 8P - 4PR)/100 = 56

    Correct Option: B

    According to the question
    [P x (R + 2) x 4]/100 - [P x R x 4]/100 = 56
    ⇒ (4PR + 8P - 4PR)/100 = 56
    ⇒ 8P/100 = 56
    ∴ P = (56 x 100)/8 = ₹ 700


  1. A sum becomes 6 fold at 5% per annum. At what rate, the sum becomes 12 fold ?











  1. View Hint View Answer Discuss in Forum

    SI at 5% = 6P - P = 5P
    ∴ 5P = (P x 5 x T) /100
    ⇒ T = 100 yr
    Now, for new rate (R),
    11P = (P x R x 100)/100

    Correct Option: D

    SI at 5% = 6P - P = 5P
    ∴ 5P = (P x 5 x T) /100
    ⇒ T = 100 yr
    Now, for new rate (R),
    11P = (P x R x 100)/100
    ∴ R =11%



  1. A sum becomes two fold in 6 yr at a certain rate of interest. Find the time, in which the same mount will be 10 fold at the same rate of interest.











  1. View Hint View Answer Discuss in Forum

    Here, n = 2, m =10, T1 = 6 yr, T2 = ?
    ∴ T2 = [(m - 1) / (n - 1)] x T1

    Correct Option: D

    Here, n = 2, m =10, T1 = 6 yr, T2 = ?
    ∴ T2 = [(m - 1) / (n - 1)] x T1
    = [(10 - 1)/(2 - 1)] x 6
    = 54 yr