Simple Interest

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  • 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% 

  • 8. A borrow took by a man, for every 8 years it will be 3 times, then what is the rate of the interest?
   A.) 15%
   B.) 20%
   C.) 25%
   D.) 28%

Answer: Option 'C'

P = 1 , I = 2 , T = 8years R = ? 
I = PTR/100 
2 = 1×8×R/100 
R = 25% 

  • 9. A borrow took by a man, for every 12 years it will be 5 times, then what is the rate of the interest?
   A.) 33 1/3%
   B.) 18 1/3%
   C.) 33 2/3%
   D.) 34%

Answer: Option 'A'

P = 1 , I = 4 , T = 12years R = ? 
I = PTR/100 
4 = 1×12×R/100 
R = 33 1/3% 

  • 10. A borrow taken by a man, for every 5 years it will be doubled, then how much time it will be taken 
   A.) 12years
   B.) 15years
   C.) 16years
   D.) 13years

Answer: Option 'B'

(R)1% ------> 5 years 
3/1% × 5 = 15 years 
Answer = 15 years