Simple interest


  1. The difference of simple interest from two banks for ₹ 1000 in 2 yr is ₹ 20. Find the difference in rates of interest.









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    Let the two rates be R1 and R2

    According to the question,
    [(1000 x 2 x R1)/100] - [(1000 x 2 x R2)/100] = 20

    Correct Option: C

    Let the two rates be R1 and R2

    According to the question,
    [(1000 x 2 x R1)/100] - [(1000 x 2 x R2)/100] = 20
    ⇒ [2000 x (R1 - R2)] / 100 = 20
    ∴ R1 - R2 = 20/20 = 1%


  1. Raju lent ₹ 400 to Ajay for 2 yr and ₹ 100 to Manoj for 4 yr and received from both ₹ 60 as collective interest, Find the rate of interest, simple interest being calculated.









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    Let rate is R%
    According to the question.
    [(R x 400 x 2)/100] + [(R x 100 x 4)/100] = 60

    Correct Option: A

    Let rate is R%
    According to the question.
    [(R x 400 x 2)/100] + [(R x 100 x 4)/100] = 60
    ⇒ 12R = 60
    ∴ R = 60/12 = 5%



  1. 2/3 part of my sum is lent out at 3%, 1/6 part is Lent out at 6% and remaining part is lent out 12% All the three parts are lent out at simple interest. If the annual income is ₹ 25, what is the sum ?











  1. View Hint View Answer Discuss in Forum

    Let entire sum = P
    According to the question,
    [(2P/3) x 3%] + [(P/6) x 6%] + [1 - ( 2/3 + 1/6 )] P x 12% = 25

    Correct Option: A

    Let entire sum = P
    According to the question,
    [(2P/3) x 3%] + [(P/6) x 6%] + [1 - ( 2/3 + 1/6 )] P x 12% = 25
    ⇒ [(2P/3) x (3/100)] + [(P/6) x (6/100)] + [1 - 4 + 1/6] x (12P/100) = 25
    ⇒ 2P/100 + P/100 + 2P/100 = 25
    ⇒ 5P = 2500,
    ∴ P = 500


  1. Suresh borrowed ₹ 800 at 6% and Naresh borrowed ₹ 600 at 10% After how much time will they both have equal debts ?









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    Given, R1 = 6% R2 = 10%
    According to the question,
    800 + [(800 x 6 x T)/100] = 600 + [(600 x 10 x T)/100]

    Correct Option: D

    Given, R1 = 6% R2 = 10%
    According to the question,
    800 + [(800 x 6 x T)/100] = 600 + [(600 x 10 x T)/100]
    800 + 48T = 600 + 60T
    ⇒ 12T = 200
    ⇒ 3T = 50
    ∴ T = 50/3 = 162/3 yr



  1. A sum of ₹ 1521 lent out two parts in such a way that the interest on one part at 10% for 5 yr is equal to that of another part at 8% for 10 yr. What will be the two parts of sum ?











  1. View Hint View Answer Discuss in Forum

    Given, T1 = 5 yr, R1 = 10% and
    T2 = 10 yr, R2 = 8%
    Let the first part = P
    Then, second part = (1521 - P)

    Now, according to the question.
    [(P x 5 x 10)/100] = [{(1521 - P) x 10 x 8}/100]

    Correct Option: D

    Given, T1 = 5 yr, R1 = 10% and
    T2 = 10 yr, R2 = 8%
    Let the first part = P
    Then, second part = (1521 - P)

    Now, according to the question.
    [(P x 5 x 10)/100] = [{(1521 - P) x 10 x 8}/100]
    ⇒ 5P = 12168 - 8P
    ⇒ 13P = 12168
    ⇒ P = ₹ 936

    So second part = 1521 - 936 = ₹ 585