Simple Interest Practice objective type question -

A man buys a TV priced at Rs. 16000. He pays Rs. 4000 at once and the rest after 15 months on which he is charged a simple interest at the rate of 12% per year.The total amount he pays for the TV is ?
a. Rs. 17,800
b. Rs. 18,200
c. Rs. 19,800
d. Rs. 19,200

Answer: a. Rs. 17,800
Solution: After paying 4,000 Rs. the sum will be: 16000-4000= 12000 15 months in year will be : 5/4
$\frac{12000 \times 5 \times 12}{4 \times 100} = 1800 \Rightarrow u s i n g formula : S . I = \frac{principal \times rate \times time}{100}$
Principal amount after interest will be : 16,000+1,800= 17,800

A certain sum under simple interest at a certain rate of interest per annum amounts to ₹1,200 in 2 years and to ₹1,500 in 3 years. The rate of interest per annum is?
a. 20%
b. 30%
c. 40%
d. 50%

Answer: d. 50%
Solution: Simple interest for one year will be : 1500-1200= 300 S.I for two years will be : 2×300= 600 Principal amount = 1200-600= 600
$\frac{600 \times r \times 2}{100} = 600 \Rightarrow u s i n g formula : S . I = \frac{principal \times rate \times time}{100}$
r=50%

A lends Rs. 800 to B and a certain sum to C at the same time at a simple interest of 7% per annum. If in 4 years, he altogether receives Rs. 476 as interest from the two, then the sum of money he lent to C was?
a. Rs. 700
b. Rs. 800
c. Rs. 900
d. Rs. 1000

Answer: c. Rs. 900
Solution: Let the amount given to c be x
According to the question:
$\frac{800 \times 7 \times 4}{100} + \frac{x \times 7 \times 4}{100} = 476 \Rightarrow 224 + \frac{28 x}{100} = 476$
$\frac{28 x}{100} = 252 \Rightarrow x = 900$

Two equal sums were lent out at 7% and 5% S.I. respectively. The interest earned on the two loans add up to Rs. 1440 for 4 years. The amount given was?
a. Rs. 1,000
b. Rs. 2,000
c. Rs. 3,000
d. Rs. 4,000

Answer:c. Rs. 3,000
Solution: Let the amount be x.
According to the question:
$\frac{x \times 7 \times 4}{100} + \frac{x \times 5 \times 4}{100} = 1440 \Rightarrow \frac{48 x}{100} = 1440$
$x = \frac{1440 \times 100}{48} = 3000$

B lends Rs. 30,000 to two of his friends. He gives Rs. 18,000 to the first at 8% p.a. simple interest. B wants to make a profit of 12% on the whole. The simple interest rate at which he should lend the remaining sum of money to the second friend is?
a. 6.2%
b. 6.8%
c. 7.2%
d. 7.8%

Answer: c. 7.2%
Solution: Simple interest on 18000 will be:
$18000 \times \frac{8}{100} = 1440$
12% on whole that B wants will be
$30000 \times \frac{12}{100} = 3600$
S.I on 12,000 will be – 3600-1400 = 2160
$\frac{30,000 \times r}{100} = 2160 \Rightarrow r = 7.2$

At certain rate of simple interest per annum a sum of money amounts to of itself in 10 years. What is the rate 13/8 of simple interest per annum?
a. 7.5%
b. 10%
c. 12.5%
d. 15%

Answer: c. 12.5%
Solution: Let the Principal amount be p.
According to the question after the interest the principal amount will become: 13p/8
Simple interest will be $\frac{13 p}{8} - p = \frac{5 p}{8}$
According to the question :
$\frac{5 p}{8} = \frac{p \times 5}{100} \Rightarrow p = \frac{100}{6} = 12.5$

John invested a sum of money at an annual simple interest rate of 5%. At the end of four years the amount invested plus interest earned was Rs. 720. The amount invested was?
a. Rs. 500
b. Rs. 550
c. Rs. 600
d. Rs. 800

Answer: c. Rs. 600
Solution: Let the principal amount be x
The Simple interest will be : 70-x
According to the question
$\frac{x \times 5 \times 4}{100} = (720 - x) \Rightarrow u s i n g formula : S . I = \frac{principal \times rate \times time}{100}$
$5 \times 720 - 5 x = x \Rightarrow x = 60$

A sum of Rs. 1000 is lent out partly at 8% and the remaining at 10% per annum. If the yearly income on the average is 8.8%, the two parts respectively are?
a. Rs. 500, Rs. 500
b. Rs. 600, Rs. 400
c. Rs. 450, Rs. 550
d. Rs. 700, Rs. 300

Answer: b. Rs. 600, Rs. 400
Solution: Let x amount be lend at 8%
The amount lend at 10% will be 10,000-x
8.8% of the 1000 Rs. is 88

According to the question:

\frac{x \times 8}{100} + (1000 - x) \times \frac{10}{100} = 88

8 x + 10,000 - 10 x = 8800 \Rightarrow 2 x = 1200 \Rightarrow x = 600

If the first number is 600 then the second no. will be: 1000-600=400

A sum of Rs. 700 becomes Rs. 910 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will the same sum becomein 3 years ?
a. Rs. 956
b. Rs. 974
c. Rs. 994
d. Rs. 1004

Answer: c. Rs. 994
Solution: S.I = 910-700 = 210
Let the rate of interest be r
According to the question:
$210 = \frac{700 \times r \times 3}{100} \Rightarrow u s i n g formula : S . I = \frac{principal \times rate \times time}{100}$
$r = \frac{100 \times 210}{700 \times 3} = 10$
By adding 4% the rate of interest will become = 10+4 = 14
new simple interest will be :
$\frac{700 \times 3 \times 14}{100} = 294$
Total amount will become 700+294 = 994

The amount 2,100 became 2,352 in 2 years at simple interest. If the interest rate is decreased by 1%, what is the new interest ?
a. Rs. 150
b. Rs. 180
c. Rs. 200
d. Rs. 210

Answer: d. Rs. 210
Solution: According to the question simple interest will be 2352-2100 = 252
$252 = \frac{2100 \times r \times 2}{100} \Rightarrow u s i n g formula : S . I = \frac{principal \times rate \times time}{100}$
$r = \frac{252 \times 100}{2100 \times 2} = 6 %$
New rate will be 6-1= 5% $S . I = \frac{2100 \times 5 \times 2}{100} = 210$

Pages: 1 2 3 4 5

Pariksha buddy

Simple Interest Practice objective type question

Leave a Comment Cancel Reply