You keep Rs 10,000 in a bank at 15% a year. How much extra money do you earn in 2 years? The answer is Rs 3,000 . That extra money is called simple interest .
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Q1. At 5% simple interest per annum, in how many years will a sum of money become 3 times itself?
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Answer: D
Let Principal = P and Rate R = 5% per annum. Becoming 3 times itself means Amount = 3P. So S.I. = Amount – P = 3P – P = 2P. Formula: Time T = (100 x S.I.)/(P x R). T = (100 x 2P)/(P x 5). The P cancels: T = 200/5 = 40 years. Check: R x T/100 = (5 x 40)/100 = 2, matching (multiple-1).
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Q2. A sum of Rs 29500 is invested at 6% per annum simple interest for 4 years. Find the amount at the end of this period.
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Answer: B
Let Principal P = Rs 29500, Rate R = 6% per annum, Time T = 4 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 29500 x 6 x 4 = 708000. S.I. = 708000/100 = Rs 7080. Amount = Principal + S.I. = 29500 + 7080 = Rs 36580. Check: Amount – Principal = 36580 – 29500 = Rs 7080, matches S.I.
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Q3. A sum of Rs 22000 is invested at 10% per annum simple interest for 8 years. Find the amount at the end of this period.
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Answer: C
Let Principal P = Rs 22000, Rate R = 10% per annum, Time T = 8 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 22000 x 10 x 8 = 1760000. S.I. = 1760000/100 = Rs 17600. Amount = Principal + S.I. = 22000 + 17600 = Rs 39600. Check: Amount – Principal = 39600 – 22000 = Rs 17600, matches S.I.
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Q4. A sum of Rs 8500 is invested at 4% per annum simple interest for 2 years. Find the amount at the end of this period.
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Answer: C
Let Principal P = Rs 8500, Rate R = 4% per annum, Time T = 2 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 8500 x 4 x 2 = 68000. S.I. = 68000/100 = Rs 680. Amount = Principal + S.I. = 8500 + 680 = Rs 9180. Check: Amount – Principal = 9180 – 8500 = Rs 680, matches S.I.
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Q5. A sum of Rs 30000 is invested at 8% per annum simple interest for 7 years. Find the amount at the end of this period.
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Answer: B
Let Principal P = Rs 30000, Rate R = 8% per annum, Time T = 7 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 30000 x 8 x 7 = 1680000. S.I. = 1680000/100 = Rs 16800. Amount = Principal + S.I. = 30000 + 16800 = Rs 46800. Check: Amount – Principal = 46800 – 30000 = Rs 16800, matches S.I.
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Q6. A sum of Rs 15000 is invested at 10% per annum simple interest for 5 years. Find the amount at the end of this period.
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Answer: A
Let Principal P = Rs 15000, Rate R = 10% per annum, Time T = 5 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 15000 x 10 x 5 = 750000. S.I. = 750000/100 = Rs 7500. Amount = Principal + S.I. = 15000 + 7500 = Rs 22500. Check: Amount – Principal = 22500 – 15000 = Rs 7500, matches S.I.
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Q7. A sum of Rs 29500 is invested at 7% per annum simple interest for 5 years. Find the amount at the end of this period.
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Answer: D
Let Principal P = Rs 29500, Rate R = 7% per annum, Time T = 5 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 29500 x 7 x 5 = 1032500. S.I. = 1032500/100 = Rs 10325. Amount = Principal + S.I. = 29500 + 10325 = Rs 39825. Check: Amount – Principal = 39825 – 29500 = Rs 10325, matches S.I.
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Q8. A sum of Rs 17000 is invested at 8% per annum simple interest for 6 years. Find the amount at the end of this period.
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Answer: D
Let Principal P = Rs 17000, Rate R = 8% per annum, Time T = 6 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 17000 x 8 x 6 = 816000. S.I. = 816000/100 = Rs 8160. Amount = Principal + S.I. = 17000 + 8160 = Rs 25160. Check: Amount – Principal = 25160 – 17000 = Rs 8160, matches S.I.
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Q9. A sum of Rs 26000 is invested at 4% per annum simple interest for 7 years. Find the amount at the end of this period.
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Answer: B
Let Principal P = Rs 26000, Rate R = 4% per annum, Time T = 7 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 26000 x 4 x 7 = 728000. S.I. = 728000/100 = Rs 7280. Amount = Principal + S.I. = 26000 + 7280 = Rs 33280. Check: Amount – Principal = 33280 – 26000 = Rs 7280, matches S.I.
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Q10. A sum of Rs 17500 is invested at 6% per annum simple interest for 5 years. Find the amount at the end of this period.
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Answer: A
Let Principal P = Rs 17500, Rate R = 6% per annum, Time T = 5 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 17500 x 6 x 5 = 525000. S.I. = 525000/100 = Rs 5250. Amount = Principal + S.I. = 17500 + 5250 = Rs 22750. Check: Amount – Principal = 22750 – 17500 = Rs 5250, matches S.I.
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Q11. A sum of Rs 20500 is invested at 15% per annum simple interest for 4 years. Find the amount at the end of this period.
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Answer: C
Let Principal P = Rs 20500, Rate R = 15% per annum, Time T = 4 years. First find S.I. using S.I. = (P x R x T)/100. P x R x T = 20500 x 15 x 4 = 1230000. S.I. = 1230000/100 = Rs 12300. Amount = Principal + S.I. = 20500 + 12300 = Rs 32800. Check: Amount – Principal = 32800 – 20500 = Rs 12300, matches S.I.
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Q12. In how many years will a sum of Rs 10500 yield a simple interest of Rs 3360 at 8% per annum?
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Answer: D
Let Principal P = Rs 10500, S.I. = Rs 3360, Rate R = 8% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 3360 = 336000. P x R = 10500 x 8 = 84000. T = 336000/84000 = 4 years. Check: S.I. = (P x R x T)/100 = (10500 x 8 x 4)/100 = Rs 3360.
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Q13. In how many years will a sum of Rs 3500 yield a simple interest of Rs 280 at 8% per annum?
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Answer: A
Let Principal P = Rs 3500, S.I. = Rs 280, Rate R = 8% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 280 = 28000. P x R = 3500 x 8 = 28000. T = 28000/28000 = 1 year. Check: S.I. = (P x R x T)/100 = (3500 x 8 x 1)/100 = Rs 280.
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Q14. In how many years will a sum of Rs 11500 yield a simple interest of Rs 5520 at 12% per annum?
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Answer: B
Let Principal P = Rs 11500, S.I. = Rs 5520, Rate R = 12% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 5520 = 552000. P x R = 11500 x 12 = 138000. T = 552000/138000 = 4 years. Check: S.I. = (P x R x T)/100 = (11500 x 12 x 4)/100 = Rs 5520.
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Q15. In how many years will a sum of Rs 18500 yield a simple interest of Rs 925 at 5% per annum?
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Answer: C
Let Principal P = Rs 18500, S.I. = Rs 925, Rate R = 5% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 925 = 92500. P x R = 18500 x 5 = 92500. T = 92500/92500 = 1 year. Check: S.I. = (P x R x T)/100 = (18500 x 5 x 1)/100 = Rs 925.
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Q16. In how many years will a sum of Rs 16500 yield a simple interest of Rs 11550 at 10% per annum?
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Answer: D
Let Principal P = Rs 16500, S.I. = Rs 11550, Rate R = 10% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 11550 = 1155000. P x R = 16500 x 10 = 165000. T = 1155000/165000 = 7 years. Check: S.I. = (P x R x T)/100 = (16500 x 10 x 7)/100 = Rs 11550.
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Q17. In how many years will a sum of Rs 20500 yield a simple interest of Rs 4920 at 6% per annum?
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Answer: A
Let Principal P = Rs 20500, S.I. = Rs 4920, Rate R = 6% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 4920 = 492000. P x R = 20500 x 6 = 123000. T = 492000/123000 = 4 years. Check: S.I. = (P x R x T)/100 = (20500 x 6 x 4)/100 = Rs 4920.
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Q18. In how many years will a sum of Rs 5500 yield a simple interest of Rs 880 at 4% per annum?
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Answer: C
Let Principal P = Rs 5500, S.I. = Rs 880, Rate R = 4% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 880 = 88000. P x R = 5500 x 4 = 22000. T = 88000/22000 = 4 years. Check: S.I. = (P x R x T)/100 = (5500 x 4 x 4)/100 = Rs 880.
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Q19. In how many years will a sum of Rs 6500 yield a simple interest of Rs 4095 at 9% per annum?
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Answer: B
Let Principal P = Rs 6500, S.I. = Rs 4095, Rate R = 9% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 4095 = 409500. P x R = 6500 x 9 = 58500. T = 409500/58500 = 7 years. Check: S.I. = (P x R x T)/100 = (6500 x 9 x 7)/100 = Rs 4095.
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Q20. In how many years will a sum of Rs 25500 yield a simple interest of Rs 10710 at 7% per annum?
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Answer: B
Let Principal P = Rs 25500, S.I. = Rs 10710, Rate R = 7% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 10710 = 1071000. P x R = 25500 x 7 = 178500. T = 1071000/178500 = 6 years. Check: S.I. = (P x R x T)/100 = (25500 x 7 x 6)/100 = Rs 10710.
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Q21. In how many years will a sum of Rs 4500 yield a simple interest of Rs 1575 at 7% per annum?
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Answer: A
Let Principal P = Rs 4500, S.I. = Rs 1575, Rate R = 7% per annum. Formula: Time T = (100 x S.I.)/(P x R). 100 x S.I. = 100 x 1575 = 157500. P x R = 4500 x 7 = 31500. T = 157500/31500 = 5 years. Check: S.I. = (P x R x T)/100 = (4500 x 7 x 5)/100 = Rs 1575.
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Q22. A sum of Rs 24000 earns a simple interest of Rs 7680 in 4 years. Find the rate of interest per annum.
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Answer: D
Let Principal P = Rs 24000, S.I. = Rs 7680, Time T = 4 years. Formula: Rate R = (100 x S.I.)/(P x T). 100 x S.I. = 100 x 7680 = 768000. P x T = 24000 x 4 = 96000. R = 768000/96000 = 8%. Check: S.I. = (P x R x T)/100 = (24000 x 8 x 4)/100 = Rs 7680.
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Q23. A sum of Rs 9000 earns a simple interest of Rs 10800 in 8 years. Find the rate of interest per annum.
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Answer: C
Let Principal P = Rs 9000, S.I. = Rs 10800, Time T = 8 years. Formula: Rate R = (100 x S.I.)/(P x T). 100 x S.I. = 100 x 10800 = 1080000. P x T = 9000 x 8 = 72000. R = 1080000/72000 = 15%. Check: S.I. = (P x R x T)/100 = (9000 x 15 x 8)/100 = Rs 10800.
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Q24. A sum of Rs 4500 earns a simple interest of Rs 1080 in 2 years. Find the rate of interest per annum.
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Answer: D
Let Principal P = Rs 4500, S.I. = Rs 1080, Time T = 2 years. Formula: Rate R = (100 x S.I.)/(P x T). 100 x S.I. = 100 x 1080 = 108000. P x T = 4500 x 2 = 9000. R = 108000/9000 = 12%. Check: S.I. = (P x R x T)/100 = (4500 x 12 x 2)/100 = Rs 1080.
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Q25. A sum of Rs 22000 earns a simple interest of Rs 9240 in 7 years. Find the rate of interest per annum.
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Answer: A
Let Principal P = Rs 22000, S.I. = Rs 9240, Time T = 7 years. Formula: Rate R = (100 x S.I.)/(P x T). 100 x S.I. = 100 x 9240 = 924000. P x T = 22000 x 7 = 154000. R = 924000/154000 = 6%. Check: S.I. = (P x R x T)/100 = (22000 x 6 x 7)/100 = Rs 9240.
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