1. How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

1. 2 years

2. 3 years

3. 1 year

4. 4 years

Answer & Explanation

Explanation :-

Answer:- 1

P = Rs.900

R = 4.5%

SI = Rs.81

SI=(P*R*T)/100

Therefore ,

T=(100*SI)/(P*R)=(100*81)/(900*4.5)

=>2 years

2. Arun took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If he paid Rs.686 as interest at the end of the loan period, what was the rate of interest?

1. 8%

2. 6%

3. 4%

4. 7%

Answer & Explanation

Answer:- 4

Explanation :-

Let rate = R%

Then, Time, T = R years

P = Rs.1400

SI = Rs.686

SI=(P*R*T)/100

680=(1400*R*R)/100

680=14R^2

R=7

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

1. Rs. 700

2. Rs. 690

3. Rs. 650

4. Rs. 698

Answer & Explanation

Answer:- 4

Explanation :-

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

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

P= Rs. (815 – 117) = Rs. 698.

4. A sum fetched a total simple interest of Rs. 929.20 at the rate of 8 p.c.p.a. in 5 years. What is the sum?

1. Rs. 2323

2. Rs. 1223

3. Rs. 2563

4. Rs. 2353

Answer & Explanation

Answer:- 1

Explanation :-

SI = Rs.929.20 T = 5 years R = 8%

SI=(P*R*T)/100

Therefore

P=(SI*100)/(R*T)

P=(929.20*100)/(8*5)

P= Rs.2323

5. 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?

1. Rs. 6400

2. Rs. 7200

3. Rs. 6500

4. Rs. 7500

Answer & Explanation

Answer:- 1

Explanation :-

Let’s Suppose the investment in scheme A be Rs.x

Therefore,

The investment in scheme B be Rs.(13900 – x)

SI for Rs. x = (x*14*2)/100=28x/100

SI for Rs. (13900-x) = ((13900-x)*11*2)/100

=>(22 (13900 – x )/100)

Total SI= 3508, Therefore

(28x/100)+(22(13900 – x )/100) =3508

28x+305800-22x=350800

6x=45000

x=7500

Investment in scheme B = 13900 – 7500 = Rs.6400