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Simple Interest Practice objective type question

  1. A sum of Rs. 4000 is lent out in two parts, one at 8% simple interest and the other at 10% simple interest. If the annual interest is Rs. 352, the sum lent at 8% was?
    a. Rs. 2000
    b. Rs. 2200
    c. Rs. 2400
    d. Rs. 2600

Answer: c. Rs. 2400
Solution: Let the amount lent at 8% will be x
Amount lent at 10% will be (4000-x) According to the question:
x×8100+4000x×10100=352 
8x+4000010x=352 2x=4800 x=2400

  1. Ratio of the principal and theamount after 1 year is 10:13. Then the rate of interest per annum is ?
    a. 5%
    b. 10%
    c. 15%
    d. 30%

Answer: d. 30%
Solution: The difference of percentage between 10 and 13 is 30%

  1. B deposited ₹700 in a bank that promised 7% simple interest per annum. If Saathi kept the money with the bank for 5 years, she will earn an interest?
    a. Rs. 215
    b. Rs. 225
    c. Rs. 235
    d. Rs. 245

Answer: d. Rs. 245
Solution: S.I=700×7×5100=245

  1. The interest on ₹ 1250 for 6 years at the rate of 4% simple interest per annum will be?
    a. Rs. 200
    b. Rs. 250
    c. Rs. 300
    d. Rs. 350

Answer: c. Rs. 300
Solution: S.I=1250×6×4100=300

  1. An amount double itself in 5 years. In what time it will become 10 times of itself at the same rate?
    a. 35 years
    b. 45 years
    c. 55 years
    d. 65 years

Answer: b. 45 years
Solution: Let the Principal amount be p
After the interest the principal amount will become 2p
Simple interest= 2p-p = p According the question:
p=p×r×5100
r= 20;
At become 10 times the simple interest will be 10p-p = 9p
9p=p×20×t100
t= 45

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