1. The simple interest on Rs.500 at 6% per annum from May 3rd to July 15th in the same year is

1. Rs. 8

2. Rs. 6

3. Rs. 4

4. Rs. 9

Answer & Explanation

Explanation :-

Answer:- 2

P = 500 R = 6% Total Days = 28+30+15 = 73 T=73/365

SI = (500*6*73)/(100*365)

SI = Rs. 6

2. Find the Simple Interest on Rs. 7500 at 11% for 2 Years and 5 months.

1. Rs.1994.25

2. Rs.1991.25

3. Rs.1992.75

4. Rs.1993.75

Answer & Explanation

Answer:- 4

Explanation :-

P = 7500, R = 11 , T = 2 year 5 months = 29 months =29/12 years

SI = (7500*11*29)/(100*12)

SI = 1993.75

3. Arun borrowed a sum for 4 years on S.I. at 12%. The total interest paid was Rs. 360. Find the Principal.

1. Rs.700

2. Rs.650

3. Rs.800

4. Rs.750

Answer & Explanation

Answer:- 4

Explanation :-

P = ? R = 12% T = 4 SI =Rs. 360

360 = (P*12*4)/100

P = (100*360)/(12*4)

P = Rs.750

4. The simple interest on Rs. 1820 from March 9, 2003 to May 21, 2003 at 7 1⁄2% rate is

1. Rs. 27.30

2. Rs. 22.50

3. Rs. 28.80

4. Rs. 29

Answer & Explanation

Answer:- 1

Explanation :-

P = Rs. 1820 R = 7 1/2 = 15/2

Total days = 22 + 30 + 21 = 73 days

T= 73/365 = 1/5 year

SI = (1820 * (15/2) * (1/5) ) / 100

SI= 27.30

5. At what rate percent of simple interest will a sum of money double itself in 20 years?

1. 4%

2. 5%

3. 6%

4. 8%

Answer & Explanation

Answer:- 2

Explanation :-

Let P = x T = 20 years SI= x

R = (100 * x) / (x*20) = 5%