Simple interest

Simple interest

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  1. Reena had ₹ 10000 with her, out of this money she lent some money to Akshay for 2 yr at 15% simple interest. She lent remaining money to Brijesh for an equal number of years at the rate of 18%. After 2 yr Reena found that Akshay had given her 360 more as interest as compared to Brijesh. The amount of money which Reena had lent to Brijesh must be










  1. View Hint View Answer Discuss in Forum

    Let the money lent to Akshay = ₹ P
    Then, money lent to Brijesh = ₹ (10000 - P) [as total amount = ₹ 10000]
    SI for Akshay = (P x 15 x 2)/100 = 3P/10
    SI for Brijesh = {(10000 - P) x 18 x 2}/100 = 9/25 (10000 - P)

    According to the given condition, (3P/10) - [(9/25) x ( 10000 - P ) = 360
    [as SI (Akshay) - SI (Brijesh) = 360]

    Correct Option: A

    Let the money lent to Akshay = ₹ P
    Then, money lent to Brijesh = ₹ (10000 - P) [as total amount = ₹ 10000]
    SI for Akshay = (P x 15 x 2)/100 = 3P/10
    SI for Brijesh = {(10000 - P) x 18 x 2}/100 = 9/25 (10000 - P)

    According to the given condition, (3P/10) - [(9/25) x ( 10000 - P ) = 360
    [as SI (Akshay) - SI (Brijesh) = 360]

    ⇒ (3P/10) - 3600 + 9P/25 = 360
    ⇒ 3P/10 + 9P/25 = 360 + 3600 = 3960
    ⇒ 33P/50 = 3960
    ⇒ P = 3960 x 50/33
    ⇒ P = 6000

    ∴ The amount of money lent to Brijesh
    = 10000 - 6000 ₹ 4000

  1. Mr. Pawan invests an amount of ₹ 242000 at the rate of 4% per annum for 6 yr to obtain a simple interest, later he invests the principal amount as well as the amount obtained as simple interest for another 4 yr at the same rate of interest. What amount of simple interest will be obtained at the end of the last 4 yr ?








  1. View Hint View Answer Discuss in Forum

    In the case I,
    SI = (P x R x T) /100 = (24200 x 4 x 6) / 100 = ₹ 5808

    ∴ Amount = Principal + SI
    SI = 24200 + 5808 = 30008

    In the case II,
    SI = (30008 x 4 x 4) / 100 = ₹ 4801.28

    Correct Option: C

    In the case I,
    SI = (P x R x T) /100 = (24200 x 4 x 6) / 100 = ₹ 5808

    ∴ Amount = Principal + SI
    SI = 24200 + 5808 = 30008

    In the case II,
    SI = (30008 x 4 x 4) / 100 = ₹ 4801.28

  1. A persom invests ₹ 12000 as fixed deposit at a bank at the rate of 10% per annum simple interest. But due to some pressing needs, he has to withdraw the entire money after 3 yr for which the bank allowed him a lower rate of interest. If he gets ₹ 3320 less than, what he would have got at the end of 5 yr the rate of interest allowed by bank is








  1. View Hint View Answer Discuss in Forum

    Let the rate of interest allowed by bank be r%
    According to the question,
    [(12000 x 5 x 10)/100] - [(12000 x 3 x r)/100] = 3320

    Correct Option: D

    Let the rate of interest allowed by bank be r%
    According to the question,
    [(12000 x 5 x 10)/100] - [(12000 x 3 x r)/100] = 3320
    ⇒ 6000 - 360r = 3320
    ⇒ 360r = 6000 - 3320 = 2680
    ⇒ r = 2680/360 = 74/9%

  1. Rajnish invested certain sum in three different schemes P, Q and R with the rates of interest 10% per annum, 12% per annum and 15% per annum, respectively. If the total interest accrued in 1 yr was ₹ 3200 and the amount invested in scheme R was 150% of the amount invested in scheme Q. what was the amount invested in scheme Q ?










  1. View Hint View Answer Discuss in Forum

    Let a, b and c be the amount invested in schemes P, Q and R, respectively.

    Then, according to the question,
    [(a x 10 x 1)/100] + [(b x 12 x 1)/100] + [(c x 15 x 1)/100] = 3200

    ⇒ 10a + 12b + 15x = 320000 .....(i)
    Now, c = 240% of b = 12b/5 ....(ii)
    and c = 150% of a = 3a/2
    ⇒ a = 2c/3 = (2/3 x 12/5) b = 8b/5 .....(iii)

    Correct Option: C

    Let a, b and c be the amount invested in schemes P, Q and R, respectively.

    Then, according to the question,
    [(a x 10 x 1)/100] + [(b x 12 x 1)/100] + [(c x 15 x 1)/100] = 3200

    ⇒ 10a + 12b + 15x = 320000 .....(i)
    Now, c = 240% of b = 12b/5 ....(ii)
    and c = 150% of a = 3a/2
    ⇒ a = 2c/3 = (2/3 x 12/5) b = 8b/5 .....(iii)

    From Eqs. (i), (ii) and (iii), we get
    16b + 12b + 36b = 320000
    ⇒ 64b = 320000
    ∴ b = 5000
    ∴ Sum invested in scheme Q = ₹ 5000

  1. Ajay takes some loan from Rashmi at the rate of 5% per annum andd after 2 yr, Ajay gave back ₹ 8800 to Rashmi and this way paid his whole loan. Find the interest by Ajay.










  1. View Hint View Answer Discuss in Forum

    Here, A = ₹ 8800, T =2 yr, R = 5%
    We know
    SI = ART/(100 + RT) = (8800 x 5 x 2) / (100 + 5 x 2)

    Correct Option: C

    Here, A = ₹ 8800, T =2 yr, R = 5%
    We know
    SI = ART/(100 + RT) = (8800 x 5 x 2) / (100 + 5 x 2)
    = (8800 x 10) / 110
    = ₹ 800