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At 5% per annum simple interest, Rahul borrowed Rs. 500. What amount will he pay to clear the debt after 4 years

  • 750
  • 700
  • 650
  • 600

Answer: Option D

Explanation:

We need to calculate the total amount to be paid by him after 4 years, So it will be Principal + simple interest.

So,
\begin{aligned}
=> 500 + \frac{500*5*4}{100}
=> Rs. 600
\end{aligned}

Similar Questions :

1. What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum

  • 110
  • 120
  • 130
  • 140

Answer: Option B

Explanation:

Let the present worth be Rs.x
Then,S.I.= Rs.(132 - x)

=› (x*5*2/100) = 132 - x

=› 10x = 13200 - 100x

=› 110x = 13200

x= 120

2. What will the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years.

  • 1:2
  • 2:1
  • 2:2
  • 2:3

Answer: Option D

Explanation:

Let the principal be P and rate be R

then

\begin{aligned}
\text{ratio = } [\frac{(\frac{P*R*6}{100})}{(\frac{P*R*9}{100})}] \\

= \frac{6PR}{9PR} = 2:3
\end{aligned}

3. A man took a loan at rate of 12% per annum simple interest. After 3 years he had to pay 5400 interest. The principal amount borrowed by him was.

  • Rs 14000
  • Rs 15000
  • Rs 16000
  • Rs 17000

Answer: Option B

Explanation:

\begin{aligned}
\text{S.I.} = \frac{P*R*T}{100} \\
=> P = \frac{S.I. * 100}{R*T} \\
=> P = \frac{5400 * 100}{12*3} = Rs 15000
\end{aligned}

4. Sachin borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends money to Rahul at 25/4% p.a. for 2 years. Find the gain of one year by Sachin.

  • 110.50
  • 111.50
  • 112.50
  • 113.50

Answer: Option C

Explanation:

Two things need to give attention in this question, First we need to calculate gain for 1 year only.
Second, where we take money at some interest and lends at other, then we use to subtract each other to get result in this type of question. Lets solve this Simple Interest question now.

\begin{aligned}
\text{Gain in 2 year = } \\
[(5000 \times \frac{25}{4} \times \frac{2}{100})-(\frac{5000 \times 4 \times 2}{100})] \\
= (625 - 400) = 225 \\
\text{ So gain for 1 year = }\\
\frac{225}{2} = 112.50
\end{aligned}

5. A sum of money at simple interest amounts to Rs. 2240 in 2 years and to Rs. 2600 in 5 years. What is the principal amount

  • 1000
  • 1500
  • 2000
  • 2500

Answer: Option C

Explanation:


SI for 3 year = 2600-2240 = 360
SI for 2 year 360/3 * 2 = 240
principal = 2240 - 240 = 2000

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