Question Detail

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

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}

1. 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}

2. If a sum of money doubles itself in 8 years at simple interest, the ratepercent per annum is

12
12.5
13
13.5

Answer: Option B

Explanation:

Let sum = x then Simple Interest = x

Rate = (100 * x) / (x * 8) = 12.5

3. The simple interest on a certain sum of money at the rate of 5% p.a. for 8 years is Rs. 840. At what rate of intrest the same amount of interest can be received on the same sum after 5 years.

Answer: Option D

Explanation:

Here firstly we need to calculate the principal amount, then we can calculate the new rate.

\begin{aligned}
P = \frac{S.I. * 100}{R*T} \\
P = \frac{840 * 100}{5*8} \\
P = 2100 \\

\text{Required Rate = } \frac{840 * 100}{5*2100} \\
R = 8\%\\

\end{aligned}

4. A sum of Rs 12,500 amounts to Rs. 15,500 in the 4 years at the rate of simple interest. Find the rate percent

Answer: Option A

Explanation:

\begin{aligned}
\text{S.I.} = \frac{P*R*T}{100} \\
=> R = \frac{S.I. * 100}{P*T}
\end{aligned}

So, S.I = 15500 - 12500 = 3000.

\begin{aligned}
=> R = \frac{3000 * 100}{12500*4} = 6\%
\end{aligned}

5. Find the simple interest on Rs 7000 at 50/3 % for 9 months

Rs. 1075
Rs. 975
Rs. 875
Rs. 775

Answer: Option C

Explanation:

\begin{aligned}
\text{ S.I. = } \frac{P \times R \times T}{100}
\end{aligned}
So, by putting the values in the above formula, our result will be.
\begin{aligned}
\text{ Required result = } \frac{7000 \times 50 \times 9}{3 \times 12 \times 100} = 875
\end{aligned}

[Please note that we have divided by 12 as we converted 9 months in a year format]