S.I. & C.I. (8)

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%

 

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