Simple Interest Questions and Answers

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Simple Interest Questions and Answers
Q :  

At some rate of simple interest, A lent ₹ 6,000 to B for 2 years and ₹ 1,500 to C for 4 years and received ₹ 9,00 as interest from both of them together. The rate of interest per annum was

(A) 8%

(B) 10%

(C) 5%

(D) 6%


Correct Answer : C
Explanation :


Q :  

A sum of money lent at simple interest amounts to ₹ 880 in 2 years and to ₹ 920 in 3 years. The sum of money (in rupees) is

(A) 784

(B) 800

(C) 700

(D) 760


Correct Answer : B
Explanation :


Q :  A sum of Rs. 1600 gives a simple interest of Rs. 252 in 2 year and 3 months. The rate of interest per annum is :

(A) $$5{1\over2}\%$$

(B) 8%

(C) 7%

(D) 6%


Correct Answer : C
Explanation :


Q :  What sum of money must be given at simple interest for six months at 4% per annum in order to earn Rs. 150 interest?

(A) Rs. 5000

(B) Rs. 7500

(C) Rs. 10000

(D) Rs. 15000


Correct Answer : B
Explanation :


Q :  

A person lends 40% of his sum of money at 15% per annum, 50% of the rest at 10% per annum and the rest at 18% per annum rate of interest. What would be the annual rate of interest, if the interest is calculated on the whole sum?

(A) 13.4%

(B) 14.33%

(C) 14.4%

(D) 13.33%


Correct Answer : C
Explanation :


Q :  

A person deposited ₹400 for 2 years, ₹ 550 for 4 years and ₹ 1,200 for 6 years. He received a total simple interest of 1,020. The rate of interest per annum is

(A) 10%

(B) 5%

(C) 15%

(D) 20%


Correct Answer : A
Explanation :


Q :  

A man had ₹ 16,000, part of which he lent at 4% and the rest at 5% per annum simple interest. If the total interest received was 700 in one year, the money lent at 4% per annum was

(A) ₹12,000

(B) ₹ 8,000

(C) ₹ 10,000

(D) ₹ 6,000


Correct Answer : C
Explanation :


Q :  

The simple interest on ₹ 7,300 from 11 May, 1987 to 10 September, 1987 (both days included) at 5% per annum is-

(A) ₹ 123

(B) ₹ 103

(C) ₹ 200

(D) ₹ 223


Correct Answer : A
Explanation :


Q :  

Manoj deposited ₹ 29400 for 6 years at a simple interest. He got ₹ 4200 as interest after 6 years. The annual rate of interest was-

(A) $$2{8\over21}$$

(B) $$2{7\over20}$$

(C) $$3{8\over21}$$

(D) $$4{8\over21}$$


Correct Answer : A
Explanation :


Q :  

A person borrows 5,000 for 2 years at 4 % per annum simple interest. He immediately lends it to another person at $$6{1\over 4}\%  $$ per annum simple interest for 2 years. His gain in this transaction is 

(A) ₹ 225

(B) ₹ 150

(C) ₹ 112.50

(D) ₹ 450


Correct Answer : A
Explanation :


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