Simple Interest

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

A:

3.5 years

B:

4 years

C:

4.5 years

D:

5 years

Answer: B

Time =		100 x 81	years	= 4 years.
		450 x 4.5

Video Explanation: https://youtu.be/WdBzN0Sj8jc

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A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?

A:

Rs. 4462.50

B:

Rs. 8032.50

C:

Rs. 8900

D:

Rs. 8925

Answer: D

Principal

= Rs.		100 x 4016.25
		9 x 5

= Rs.		401625
		45

= Rs. 8925.

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Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B?

A:

Rs. 6400

B:

Rs. 6500

C:

Rs. 7200

D:

Rs. 7500

Answer: A

Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 - x).

Then,		x x 14 x 2		+		(13900 - x) x 11 x 2		= 3508
		100				100

28x - 22x = 350800 - (13900 x 22)

6x = 45000

x = 7500.

So, sum invested in Scheme B = Rs. (13900 - 7500) = Rs. 6400.

Video Explanation: https://youtu.be/Xi4kU9y6ppk

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A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:

A:

Rs. 650

B:

Rs. 690

C:

Rs. 698

D:

Rs. 700

Answer: C

S.I. for 1 year = Rs. (854 - 815) = Rs. 39.

S.I. for 3 years = Rs.(39 x 3) = Rs. 117.

Principal = Rs. (815 - 117) = Rs. 698.

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Questions for: Simple Interest