Simple Interest

1.

Find simple interest on Rs.6000/- at 10% p.a. for 2years 3 months? 

   A.) Rs.1350/-
   B.) Rs.1250/-
   C.) Rs.2350/-
   D.) None of these

Answer: Option 'A'

2 years 3months = 27/12 = T 
P = Rs.6000/- 
R = 10% 
I = (6000 × 27/12 × 10)/100 = 27 × 50 
I = Rs.1350/-

2.

Find the principle, interest on Rs.900/- at 6% p.a. for 3 years? 

   A.) Rs.5000/-
   B.) Rs.4500/-
   C.) Rs.3500/-
   D.) Rs.2200/-

Answer: Option 'A'

P = ? 
T = 3 years 
R = 6% 
I = Rs.900/- 
I = PTR/100 
P = 100I/TR 
P = (100 × 900)/(3 × 6) 
P = Rs.5000/- 

3.

Find simple interest on Rs.5000/- at 12% p.a, for 2 years? 

   A.) Rs.1300/-
   B.) Rs.1400/-
   C.) Rs.1200/-
   D.) Rs.1000/-

Answer: Option 'C'

P = Rs.5000/- 
T = 2 years 
R = 12% 
I = PTR/100 
I = Rs.5000 × 2 × 12/100 = Rs.1200/- 

4.

An employ sell a t.v for Rs.9000/- with 10% simple interest for 5 years on an installment basis. Then How much amount he paid for each installment? 

   A.) Rs.1200/-
   B.) Rs.1500/-
   C.) Rs.1400/-
   D.) Rs.1350/-

Answer: Option 'B'

Instalment = 100 × P/100 × T+T × (T - 1)R/2 
= 100 × 9000/100 × 5+5 × (5-1)10/2 
= 100 × 9000/6000 = Rs.1500/- 

5.

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% 

Simple Interest Download Pdf