Chapter – 6 (Simple interest)

Questions With Solution

1. A sum of Rs. 400 amounts to Rs. 480 in 4 years. If the rate of interest is increased by 2% , then what wll it amount to?

A. 480       B. 560       C. 512       D. 536

Solution :-

2. At what rate percent per annum rate will the simple interest on a sum of money be 2/5 of the principal amount in 10 years?

A. 40%      B. 60%      C. 50%      D. 55%

Solution :-

3. A sum of Rs. 1550 was lent partly at 5% and partly at 8% simple interest. After 3 years, he receives Rs. 300 as total interest. What is the ratio of the lent amount at 5% and 8%?

A. 5 : 8          B. 8 : 5          C. 31 : 6           D. 16 : 15

Solution :-

4. What sum of money will be given Rs.520 in 5 years and Rs. 568 in 7 years with simple interest?

A. 400           B. 120           C. 510          D. 220

Solution :-

A. 6300            B. 6500           C. 6000           D. 5000

Solution :-

6. The effective annual rate of interest, corresponding to a nominal rate of 6% per annum payable half yearly is:

A. 6.06%       B. 6.07%        C. 6.08%          D. 6.09%

Solution :-

7. The amount Rs. 6000 becomes Rs. 7200 in 4 years. If the rate become 1.5 times of itself, the amount of the same principal in 5 years

A. 8000     B. 9250     C. 8250   D. 9000

Solution :-

8. A sum of money at a certain rate per annum of simple interest doubles in the 5 years and at a different rate becomes three time in 12 years. The lower rate of interest per annum is

Solution :-

9. A sum of money is disbursed for 2 years at an annual rate of simple interest. If the interest rate is increased by 3%, then the interest increase Rs.72. What was the principal?

A. 1200   B. 1500   C. 1600   D. 1800

Solution :-

10. The ratio of a principal and the amount after 1 year is 10 : 12. What will be the rate of interest per annum?

A. 12%   B. 16%   C. 18%    D. 20%

Solution :-

11. Ram lends Rs. 20,000 to two of his friends. He gives Rs.12,000 to the first friend at 8% per annum simple interest. Ram wants to make a profit of 10% on the whole. The simple interest rate at which he should lend the remaining sum of money to the second friends is

A. 8%         B. 16%          C. 12%           D. 13%

Solution :-

12. A sum of money is disbursed for 2 years at an annual rate of simple interest. If the interest rate is increased by 1%, then the interest increase Rs.24. What was the principal?

A. 1200        B. 1050      C. 1000     D. 950

Solution :-

13. A sum fetched a total simple interest of Rs. 9648 at the rate of 12% per year in 6 years. What is the principal?

A. 16080        B. 10720       C. 8040        D. 13400

Solution :-

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