Simple interest

Simple interest

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  1. Prabhat borrowed some money from a bank at 8% p.a simple interest and lended it to Ashish at 12% p.a simple interest. If his profit in 2 years is Rs. 320. What sum of money did he borrow ?








  1. View Hint View Answer Discuss in Forum

    Let the principal be Rs. P
    ∴ Amount = Rs. 10080
    ∴ Simple interest = Amount - Principal = 10080 - P

    &because Simple interest = (Principal x Rate x Time) / 100
    ⇒ 10080 - P = (P x 16 x 5) / 100

    Correct Option: B

    Let the principal be Rs. P
    ∴ Amount = Rs. 10080
    ∴ Simple interest = Amount - Principal = 10080 - P

    &because Simple interest = (Principal x Rate x Time) / 100
    ⇒ 10080 - P = (P x 16 x 5) / 100
    ⇒ 10080 - P = 4P/5
    ⇒ 50400 - 5P = 4P
    ⇒ 50400 = 5P + 4P
    ⇒ 50400 = 9P
    ∴ P = 50400/9 = Rs. 5600

  1. Anil borrowed some money at simple interest. The rate of interest for the first 3 years was 5% for the next 2 years was 8% and for the next 4 year it was 10%. Beyond this it was 12% per annum. If he paid Rs. 8560, as interest for 12 years. How much money did he borrow ?








  1. View Hint View Answer Discuss in Forum

    r1 = 5%
    r2 = 8%
    r3 = 10%
    r4 = 12%

    t1 = 3 years
    t2 = 2 years
    t3 = 4 years
    t4 = 12 - (3 + 2 + 4) = 3 years


    ∵ Principal = ( Interest x 100) / ( r1 t1 + r2 t2 + r3 t3 + r4 t4)

    Correct Option: A

    r1 = 5%
    r2 = 8%
    r3 = 10%
    r4 = 12%

    t1 = 3 years
    t2 = 2 years
    t3 = 4 years
    t4 = 12 - (3 + 2 + 4) = 3 years


    ∵ Principal = ( Interest x 100) / ( r1 t1 + r2 t2 + r3 t3 + r4 t4)
    = (8560 x 100) / (5 x 3 + 8 x 2 + 10 x 4 + 12 x 3)
    = 856000/107
    = Rs. 8000

  1. The rate of interest for the first 2 years is 5% for the next 3 years is 8% and beyond this. It is 10% per annum. If the simple interest for 8 years is Rs . 1280. What is the principal ?








  1. View Hint View Answer Discuss in Forum

    r1 = 5%,
    r2 = 8%,
    r3 = 10%,

    t1 = 2 years
    t2 = 3 years,
    t3 = 8 - (2 + 3) = 3 years
    ∵ Principal = (Interest x 100) / [(r1 x t1) + (r2 t2) + (r3 t3 )]

    Correct Option: B

    r1 = 5%,
    r2 = 8%,
    r3 = 10%,

    t1 = 2 years
    t2 = 3 years,
    t3 = 8 - (2 + 3) = 3 years
    ∵ Principal = (Interest x 100) / [(r1 x t1) + (r2 x t2) + (r3 x t3 )]

    = (1280 x 100) / (5 x 2 + 8 x 3 + 10 x 3)
    = 128000/(10 + 24 + 30)
    = 128000/64
    =Rs. 2000

  1. If A is the simple interest on B and B is the simple interest on C, the rate % and and the time being the same in both cases, what is the relation between A, B and C ?








  1. View Hint View Answer Discuss in Forum

    ∵ A = (B x R x T) / 100 ....(i)
    And B = (C x R x T) / 100 ...(ii)

    Correct Option: B

    ∵ A = (B x R x T) / 100 ....(i)
    And B = (C x R x T) / 100 ...(ii)

    From Eq. (i) and (ii)
    ⇒ A/B = B/C
    ∴ B2 = AC

  1. The rate of interest on a sum of money is 4% per annum for the first 2 year, 6% per annum for the next 4 year and 8% per annum for the period beyond 6 years. If the simple interest accrued by the sum for a total period of 9 years is Rs. 1120. What is the sum ?








  1. View Hint View Answer Discuss in Forum

    Let sum= Rs . P
    Then, [(P x 4 x 2) /100] + [(P x 6 x 4) / 100] + [(P x 8 x 3) /100] = 1120

    Correct Option: B

    Let sum= Rs. P
    Then, [(P x 4 x 2) /100] + [(P x 6 x 4) / 100] + [(P x 8 x 3) /100] = 1120
    ⇒ 56 x P = 112000
    ∴ P = 112000/56 = Rs. 2000