Simple Interest


  • 1. A man borrowed some amount, after 3 years he paid Rs.10,400/- with 10% interest, then how much Amount he borrowed? 
A.) Rs.7000/-
B.) Rs.8000/-
C.) Rs.9000/-
D.) Rs.1000/-

Answer: Option 'B'

principal P = ? 
Rate of interest R = 10% 
Time T = 3 years 
Accumulated Amount A = Rs.10400/- 
A = P + I 
A = P + PTR/100 
A = P(1+ TR/100) 
Rs.10400/- = P [1 + 3*10/100] 
Rs.10400/- = P [1/1 + 3/10] 
Rs.10400/- = P [10+3/10] = P[13/10] 
Rs.10400/- = P * 13/10 
==> P = Rs.104000/13 
==> P = Rs.8000/- 

  • 2. A man took some money for borrowed, for 3 years the total will be Rs.4000 and 5 years it will be Rs.5000/-. Then how much amount he borrowed? 
A.) Rs.500/-
B.) Rs.1500/-
C.) Rs.2500/-
D.) Rs.1000/-

Answer: Option 'C'

3 years --------> Rs.4000/- 
5 years --------> Rs.5000/- 
~                    ~
------------------------------  
2 years ----> Rs.1000/- 
1 year  -----> Rs.500/-  
3 years × Rs.500/- = Rs.1500/- 
P = Rs.4000/- - Rs.1500/- = Rs.2500/- 
P = Rs.2500/-

  • 3. A man took some money for borrowed, for 2 years the total will be Rs.9000/- and 5 years it will be13, Rs.500/-. Then how much amount he borrowed? 
A.) Rs.4500/-
B.) Rs.6000/-
C.) Rs.5000/-
D.) Rs.5500/-

Answer: Option 'B'

2 years --------> Rs.9000/- 
5 years --------> Rs.13500/- 
~                 ~
-----------------------------  
3 years ----> Rs.4500/- 
1 year -----> Rs.1500/-  
2years × Rs.1500/- = Rs.3300/- 
P = Rs.9000/- - Rs.30000/- = Rs.6000/- 
P = Rs.6000/- 

  • 4. A person took some amount with some interest for 1 years, but increase the interest for 2%, he paid Rs.60/- extra, then how much amount he took? 
A.) Rs.3000/-
B.) Rs.4000/-
C.) Rs.2900/-
D.) Rs.2000/-

Answer: Option 'A'

Only 1 year = 60/1 = 60 
Rate of Interest = 2% 
100/2% × 60 = Rs.3000/- 
P = Rs.3000/- 

  • 5. A person took some amount with some interest for 2 years, but increase the interest for 1%, he paid Rs.120/- extra, then how much amount he took?
A.) Rs.5500/-
B.) Rs.6000/-
C.) Rs.4000/-
D.) Rs.7000/-

Answer: Option 'B'

2 years = Rs.120/- 
year = 120/2 
Rate of Interest = 1% 
100/1% × 120/2 = Rs.6000/- 
P = Rs.6000/- 

  • 6. A person took some amount with some interest for 3 years, but increase the interest will be increase From 7% to 9%. He paid Rs. 240 extra, then howmuch amount he took? 
A.) Rs.7000/-
B.) Rs.4000/-
C.) Rs.5500/-
D.) Rs.6000/-

Answer: Option 'B'

2% ------> Rs.240/- 
3 years = Rs.240/- 
1 year = 240/3 = Rs.80/- 
100/2% × 80 = Rs.4000/- 
P = Rs.4000/- 

  • 7. A borrow took by a man, for every 5 years it will be doubled, then what is the rate of the interest? 
A.) 15%
B.) 20%
C.) 22%
D.) 23%

Answer: Option 'B'

P = 1 , I = 1 , T = 5years R = ? 
I = PTR/100 
1 = 1×5×R/100 
R = 20% 

To whom this Simple Interest Question and Answers section is beneficial?

Students can learn and improve on their skillset for using Simple Interest effectively and can also prepare for competitive examinations like...

  • All I.B.P.S and Public Sector Bank Competitive Exam
  • Common Aptitude Test (CAT) Exams
  • UPSC Paper-II or CSAT Exams
  • SSC Competitive Exams
  • Defence Competitive Exams
  • NIIT online mock test
  • L.I.C Assistant Administrative Officer (AAO)/ G.I.C AAO and Clerk Competitive Exams
  • Railway Competitive Exam
  • University Grants Commission (UGC)
  • Career Aptitude Test (IT Companies) and etc.