Simple interest

Simple interest

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  1. Simple interest on a certain sum at a certain rate is 9/16 of the sum. If the number representing rate percent and time in years be equal. Then the time is ?








  1. View Hint View Answer Discuss in Forum

    Let principle = P, then SI = (9/16) x P.
    Let rate = R% per annum and time = R years
    Then, 9/16 P = P x R x R / 100

    Correct Option: D

    Let principle = P, then SI = (9/16) x P.
    Let rate = R% per annum and time = R years
    Then, 9/16 P = P x R x R / 100
    ⇒ R2 = 900/16
    ∴ R = 30/4 = 71/2 years

  1. A sum of Rs . 2600 is lent out in two part in such a way that the interest on one part at 10% for 5 years is equal to that on another part at 9% for 6 years. The sum lent out at 10% is ?








  1. View Hint View Answer Discuss in Forum

    Let the money at 10% be Rs. P, Then the money at 9% is Rs. (2600 - P )
    ∴ (P x 10 x 5)/100 = [(2600 - P ) x 9 x 6]/100

    Correct Option: C

    Let the money at 10% be Rs. P, Then the money at 9% is Rs. (2600 - P )
    ∴ (P x 10 x 5)/100 = [(2600 - P ) x 9 x 6]/100
    or 104 x P = 2600 x 54
    or P = (2600 x 54) / 104 = Rs.1350

  1. What annual payment will discharge a debt of ₹ 1092 due in 2 yr at 12% simple interest ?










  1. View Hint View Answer Discuss in Forum

    According to the formula,
    Annual payment = 100P / [100 x T + {RT (T - 1)/2}]

    Correct Option: C

    According to the formula,
    Annual payment = 100P / [100 x T + {RT (T - 1)/2}]
    = (1092 x 100) / [100 x 2 + {24 (2 - 1)/2}]
    = (1092 x 100)/2012
    = ₹ 515.09
    ≈ ₹ 515

  1. What annual payment will discharge a debt of ₹ 1696 in yr at 4% per annum ?










  1. View Hint View Answer Discuss in Forum

    Given, debt (p) = ₹ 1696, R = 4% T = 4 yr
    According to the formula,
    Annual payment = 100P / [100 x T + {RT (T - 1)/2}]

    Correct Option: D

    Given, debt (p) = ₹ 1696, R = 4% T = 4 yr
    According to the formula,
    Annual payment = 100P / [100 x T + {RT (T - 1)/2}]
    = (1696 x 100) / [4 x 100 + {(4 x 3 x 4)/2}]
    = (1696 x 100) / 424
    = ₹ 400

  1. Harsha makes a fixed deposit of ₹ 20000 in Bank of India for a period of 3 yr. If the rate of interest be 13% SI per annum charged half - yearly, what amount will he get after 42 months ?








  1. View Hint View Answer Discuss in Forum

    Give, time = 42 months.
    = (42/12) yr = 31/2 yr
    = 7 half - yr,
    rate = 13/2% half - yearly

    SI = (20000 x 13 x 7)/(100 x 2) = ₹ 9100

    Correct Option: C

    Give, time = 42 months.
    = (42/12) yr = 31/2 yr
    = 7 half - yr,
    rate = 13/2% half - yearly

    SI = (20000 x 13 x 7)/(100 x 2) = ₹ 9100
    ∴ Amount (A) = 20000 + 9100
    = ₹ 29100