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SIMPLE INTEREST 14. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest.

He immediately lends it to another person at 6 p.a for 2 years. Find


1. A sum of money at simple interest amounts to Rs. 815 in 3 years his gain in the transaction per year.
and to Rs. 854 in 4 years. The sum is: A.Rs. 112.50 B.Rs. 125 C.Rs. 150 D.Rs. 167.50
A.Rs. 650 B.Rs. 690 C.Rs. 698 D.Rs. 700 15. Find the simple interest on Rs 7000 at 50/3 % for 9 months
2. Mr. Thomas invested an amount of Rs. 13,900 divided in two A.Rs. 1075 B.Rs. 975 C.Rs. 875 D.Rs. 775
different schemes A and B at the simple interest rate of 14% p.a. and 16. Find the simple interest on the Rs. 2000 at 25/4% per annum for
11% p.a. respectively. If the total amount of simple interest earned in the period from 4th Feb 2005 to 18th April 2005
2 years be Rs. 3508, what was the amount invested in Scheme B? A.Rs 25 B.Rs 30 C.Rs 35 D.Rs 40
A.Rs. 6400 B.Rs. 6500 C.Rs. 7200 D.Rs. 7500 E.None of these 17. Sachin borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He
3. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 immediately lends money to Rahul at 25/4% p.a. for 2 years. Find the
p.c.p.a. in 5 years. What is the sum? gain of one year by Sachin.
A.Rs. 4462.50 B.Rs. 8032.50 C.Rs. 8900 D.Rs. 8925 A.110.50 B.111.50 C.112.50 D.113.50
E.None of these 18. If A lends Rs. 3500 to B at 10% p.a. and B lends the same sum to C
4. How much time will it take for an amount of Rs. 450 to yield Rs. 81 at 11.5% p.a., then the gain of B (in Rs.) in a period of 3 years is
as interest at 4.5% per annum of simple interest? A.Rs. 154.50 B.Rs. 155.50 C.Rs. 156.50 D.Rs. 157.50
A.3.5 years B.4 years C.4.5 years D.5 years 19. Sahil took a loan for 6 years at the rate of 5% per annum on Simple
5. Reena took a loan of Rs. 1200 with simple interest for as many Interest, If the total interest paid was Rs. 1230, the principal was
years as the rate of interest. If she paid Rs. 432 as interest at the end A.4100 B.4200 C.4300 D.4400
of the loan period, what was the rate of interest? 20 . There was simple interest of Rs. 4016.25 on a principal amount at
A.3.6 B.6 C.18 D.Cannot be determined E.None of these the rate of 9%p.a. in 5 years. Find the principal amount
6. A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of A.Rs 7925 B.Rs 8925 C.Rs 7926 D.Rs 7925
simple interest. What is the rate of interest? 21. Find the rate at Simple interest, at which a sum becomes four
A.3% B.4% C.5% D.6% E.None of these times of itself in 15 years.
7. An automobile financier claims to be lending money at simple A.10% B.20% C.30% D.40%
interest, but he includes the interest every six months for calculating 22. At 5% per annum simple interest, Rahul borrowed Rs. 500. What
the principal. If he is charging an interest of 10%, the effective rate of amount will he pay to clear the debt after 4 years
interest becomes: A.750 B.700 C.650 D.600
A.10% B.10.25% C.10.5% D.None of these 23. If a sum of money doubles itself in 8 years at simple interest, the
8. A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on ratepercent per annum is
simple interest at the same rate of interest and received Rs. 2200 in A.12 B.12.5 C.13 D.13.5
all from both of them as interest. The rate of interest per annum is: 24. A sum of Rs 12,500 amounts to Rs. 15,500 in the 4 years at the
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A.5% B.7% C. 7 % D.10% rate of simple interest. Find the rate percent
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9. A sum of Rs. 725 is lent in the beginning of a year at a certain rate A.6 % B.7 % C.8 % D.9 %
of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the 25. What is the present worth of Rs. 132 due in 2 years at 5% simple
rate twice the former. At the end of the year, Rs. 33.50 is earned as interest per annum
interest from both the loans. What was the original rate of interest? A.110 B.120 C.130 D.140
A. 3.6% B.4.5% C.5% D. 6% E. None of these 26. Reema took a loan of Rs 1200 with simple interest for as many
10. A man took loan from a bank at the rate of 12% p.a. simple years as the rate of interest. If she paid Rs. 432 as interest at the end
interest. After 3 years he had to pay Rs. 5400 interest only for the of the loan period, what was the rate of interest.
period. The principal amount borrowed by him was: A.5% B.6% C.7% D.8%
A.Rs. 2000 B.Rs. 10,000 C.Rs. 15,000 D.Rs. 20,000 27. The simple interest on a certain sum of money at the rate of 5%
11. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 p.a. for 8 years is Rs. 840. At what rate of intrest the same amount of
after 8 years at the same rate of simple interest. The rate of interest interest can be received on the same sum after 5 years.
per annum is: A.5% B.6% C.7% D.8%
A.5% B.8% C.12% D.15% 28. A man took a loan at rate of 12% per annum simple interest. After
12. What will be the ratio of simple interest earned by certain amount 3 years he had to pay 5400 interest. The principal amount borrowed
at the same rate of interest for 6 years and that for 9 years? by him was.
A.1 : 3 B.1 : 4 C.2 : 3 D.Data inadequate E.None of these A.Rs 14000 B.Rs 15000 C.Rs 16000 D.Rs 17000
13. A certain amount earns simple interest of Rs. 1750 after 7 years. 29. A sum of money at simple interest amounts to Rs. 2240 in 2 years
Had the interest been 2% more, how much more interest would it and to Rs. 2600 in 5 years. What is the principal amount
have earned? A.1000 B.1500 C.2000 D.2500
A.Rs. 35 B.Rs. 245 C.Rs. 350 D. Cannot be determined 30. At what rate percent per annum will the simple interest on a sum
E. None of these of money be 2/5 of the amount in 10 years
A.1% B.2% C.3% D.4%

Answer & Explanation:


1.Answer: Option C 28x - 22x = 350800 - (13900 x 22) 100 x 81
Time = ( ) years = 4 years.
450 x 4.5
Explanation: 6x = 45000
5.Answer: Option B
S.I. for 1 year = Rs. (854 - 815) = Rs. 39. x = 7500.
Explanation:
S.I. for 3 years = Rs.(39 x 3) = Rs. 117. So, sum invested in Scheme B = Rs. (13900
Let rate = R% and time = R years.
Principal = Rs. (815 - 117) = Rs. 698. - 7500) = Rs. 6400. 1200 x R x R
3.Answer: Option D Then, ( ) = 432
100
2.Answer: Option A Explanation:
Explanation: 100 x 4016.25 12R2 = 432
Principal = Rs. ( )
9x5 R2 = 36
Let the sum invested in Scheme A be Rs. x 401625
and that in Scheme B be Rs. (13900 - x). = Rs. ( ) R = 6.
45
x x 14 x 2 (13900 − x) x 11 x 2 = Rs. 8925. 6.Answer: Option D
Then, ( ) +( )=
100 100 4.Answer: Option B Explanation:
3508
Explanation: S.I. = Rs. (15500 - 12500) = Rs. 3000.

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100 x 3000 225 22.Answer: Option D
Rate = ( ) % = 6% Gain in 1 year = Rs. ( ) = Rs. 112.50
12500 x 4 2
Explanation:
7. Answer: Option B 15.Answer: Option C
We need to calculate the total amount to
Explanation: Explanation:
P×R×T be paid by him after 4 years, So it will be
Let the sum be Rs. 100. Then, S.I. =
100 x 10 x 1 100 Principal + simple interest.
S.I. for first 6 months = Rs. ( )= Rs. So, by putting the values in the above So,
100 x 2
5 formula, our result will be. 500×5×4
7000×50×9
=>500+ =>Rs.600
105 x 10 x 1 100
S.I. for last 6 months = Rs. ( )= Rs. Required result = =875 23.Answer: Option B
100 x 2 3×12×100
5.25 16.Answer: Option A Explanation:
So, amount at the end of 1 year = Rs. (100 Explanation: Let sum = x then Simple Interest = x
+ 5 + 5.25) = Rs. 110.25 One thing which is tricky in this question is Rate =
(100 × x)
= 12.5
to calculate the number of days. (x × 8)
Effective rate = (110.25 - 100) = 10.25%
Always remember that the day on which 24.Answer: Option A
8.Answer: Option D
money is deposited is not counted while Explanation:
Explanation: P×R×T
Let the rate be R% p.a. the day on which money is withdrawn is S.I.=
100
5000 x R x 2 3000 x R x 4 counted. S.I.×100
Then, ( ) +( )= =>R=
100 100 P×T
So lets calculate the number of days now,
2200. So, S.I = 15500 - 12500 = 3000.
Time = (24+31+18) days = 73/365 years = 3000×100
100R + 120R = 2200 1/5 years =>R= =6%
12500×4
2200
R= ( ) = 10. P = 2000 25.Answer: Option B
220
R = 25/4% Explanation:
Rate = 10%. S.I. = =
2000×25
=25 Let the present worth be Rs.x
4×5×100 Then,S.I.= Rs.(132 - x)
9.Answer: Option E 17.Answer: Option C
Explanation: =› (x×5×2/100) = 132 - x
Explanation:
Let the original rate be R%. Then, new rate =› 10x = 13200 - 100x
Two things need to give attention in this
= (2R)%. =› 110x = 13200
question, First we need to calculate gain
Note: x= 120
for 1 year only.
Here, original rate is for 1 year(s); the new Explanation:
Second, where we take money at some
rate is for only 4 months i.e. year(s). Let rate = R% then Time = R years.
interest and lends at other, then we use to
725 x R x 1 362.50 x 2R x 1 =>1200×R×R100=432=>R2=36=>R=6%
( )+( ) = subtract each other to get result in this
100 100 x 3 26.Answer: Option B
33.50 type of question. Lets solve this Simple
Explanation:
(2175 + 725) R = 33.50 x 100 x 3 Interest question now.
25 2 Let rate = R% then Time = R years.
(2175 + 725) R = 10050 Gain in 2 year = [(5000× × )−( 1200×R×R
4 100 => ( ) =432
(2900)R = 10050 5000×4×2 100
10050 )] =>R2=36
100
R= = 3.46
2900 =(625−400)=225 =>R=6%
Original rate = 3.46% 225
27.Answer: Option D
So gain for 1 year = =112.50
10.Answer: Option C 2
Explanation:
Explanation: 18.Answer: Option D
100 x 5400 Explanation: Here firstly we need to calculate the
Principal = Rs. ( ) = Rs. 15000 We need to calculate the profit of B. principal amount, then we can calculate
12x3
11.Answer: Option C It will be, the new rate.
S.I.×100
Explanation: SI on the rate B lends - SI on the rate B gets P=
R×T
S.I. for 3 years = Rs. (12005 - 9800) = Rs. Gain of B=
3500×11.5×3

3500×10×3
=157.50 840×100
100 100 P=
2205. 5×8
2205 19. Answer: Option A P=2100
S.I. for 5 years = Rs. ( x 5) = Rs. 3675 Explanation: 840×100
3 Required Rate =
P×R×T 5×2100
S.I.= R=8%
100
Principal = Rs. (9800 - 3675) = Rs. 6125. S.I.×100
100 x 3675 =>P= 28.Answer: Option B
Hence, rate = ( ) % = RT
Explanation:
6125 x 5 By applying above formula we can easily
12% S.I.=
P×R×T
solve this question, as we are already 100
12. Answer: Option C
having the simple interest. =>P=
S.I.×100
Explanation: 1230×100 R×T
Let the principal be P and rate of interest =>P= 5400×100
6×5 =>P=
=>P=4100 12×3
be R%. =Rs 15000
PxRx6
6PR 6
20.Answer: Option B
Required ratio = { P x100 29.Answer: Option C
Rx9} = = = 2 : 3. Explanation:
9PR 9
100 S.I.×100 Explanation:
13.Answer: Option D P= SI for 3 year = 2600-2240 = 360
R×T
Explanation: So by putting values from our question we SI for 2 year
360
= 240
We need to know the S.I., principal and can get the answer 3 ×2
4016.25×100 principal = 2240 - 240 = 2000
time to find the rate. P=
9×5 30.Answer: Option D
Since the principal is not given, so data is
=8925 Explanation:
inadequate. 21.Answer: Option B Let sum = x
14.Answer: Option A
Explanation: Time = 10 years.
Explanation: Let sum be x and rate be r% 2x
Gain in 2 years = Rs. S.I = , [as per question]
5
25 2 5000 x 4 x 2
then, (x×r×15)/100 = 3x [important to note (100 × 2x)
[(5000 x x )− ( )] here is that simple interest will be 3x not Rate = %
4 100 100 (x×5×10)
4x, beause => Rate = 4
= Rs. (625 - 400) 3x+x = 4x]
= Rs. 225. => r = 20%

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