2. If the simple interest on Rs 100 for 1 month is Rs 1 , then the rate per cent per annum will be?
a. 6%
b. 8%
c. 10%
d. 12%
Answer : d. 12%
Explanation:
According to the question:
\[ 12 = \frac{100 \times r \times 1}{100} \Rightarrow r = 12 \]
3. A borrowed an amount of Rs.4,00,000 from the bank to start a for home loan. How much simple interest will she pay at the rate of 7% per annum after 2 years?
4. 4. In what time will Rs. 8,000, at 2.5% per annum, produce the same interest as Rs. 3, 000 does in 5 years at 4 % simple interest ?
a. 2 years
b. 3 years
c. 4 years
d. 5 years
Answer : b. 3 years
Explanation:
S.I. on 3,000 will be:
\[ S.I. = \frac{3000 \times 5 \times 4}{100} = 600 \]
Let the time taken for 8,000 be \( t \).
According to the question:
\[ 600 = \frac{8000 \times 2.5 \times t}{100} \]
\[ \Rightarrow t = \frac{600 \times 100 \times 10}{8000 \times 25} = 3 \text{ years} \]
5. How much simple interest will Rs. 8,000 earn in 18 months at 12% per annum?
6. If the simple interest on Rs. 600 for 2 years is Rs. 84, the rate of interest per annum is?
a. 6%
b. 7%
c. 8%
d. 9%
Answer: b. 7%
Explanation:
According to the question:
\[ 84 = \frac{600 \times r \times 2}{100} \]
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ \Rightarrow r = 7\% \]
7. The rate of simple interest for which Rs. 7,000 will amount to Rs. 8,260 in 3 years is?
a. 6%
b. 7%
c. 8%
d. 9%
Answer: Answer: a. 6%
Explanation:
Simple Interest (S.I.) = 8260 – 7000 = 1260
Let the rate of interest be \( r \).
According to the question:
\[ 1260 = \frac{7000 \times r \times 3}{100} \]
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ \Rightarrow r = 6\% \]
8. A sum of money becomes 6/5 of itself in 3 years at a certain rate of simple interest. The rate per annum is?
a. 6(1/3)
b. 6(2/3)
c. 6%
d. 6(4/3)
Answer: Answer: a. \[ 6\frac{2}{3}\% \]
Explanation:
Let the principal amount be \( p \).
Interest = \( \frac{6p}{5} – p \Rightarrow \frac{6p – 5p}{5} = \frac{p}{5} \)
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ \frac{p}{5} = \frac{p \times r \times 3}{100} \]
\[ \Rightarrow r = \frac{p \times 100}{5 \times p \times 3} = \frac{20}{3} = 6\frac{2}{3}\% \]
9. A sum of money at simple interest double itself in 15 years. It will become 5 times of itself in how many years?
a. 10 years
b. 20 years
c. 40 years
d. 60 years
Answer: d. 60 years
Explanation:
Let the principal be \( p \).
According to the question:
\[ p = \frac{p \times r \times 15}{100} \]
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ \Rightarrow r = \frac{100}{15} = \frac{20}{3}\% \]
To become 5 times itself, the Simple Interest must be:
\( S.I. = 5p – p = 4p \)
Now, \[ 4p = \frac{p \times 20 \times t}{100 \times 3} \]
\[ \Rightarrow t = \frac{4 \times 100 \times 3}{20} = 60 \text{ years} \]
10. In how much time, will a sum of money become double of itself at 12% per annum simple interest?
a. 8 yrs. 6 months
b. 6 yrs. 9 months
c. 8 yrs. 4 months
d. 7 yrs. 6 months
Answer: c. 8 yrs. 4 months
Explanation:
Let the principal amount be \( p \).
Since the sum doubles, Simple Interest (\( S.I. \)) = \( 2p – p = p \).
Let the time taken be \( t \).
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ p = \frac{p \times 12 \times t}{100} \]
\[ \Rightarrow t = \frac{100}{12} = \frac{25}{3} = 8\frac{1}{3} \text{ years} \]
Which is equal to 8 years and 4 months.
11. In how much time, will a sum of money become double of itself at 18% per month simple interest?
a. 4 month
b. 5 month
c. 6 month
d. 7 month
Answer: 5 month
Explanation:
Let the principal be \( p \). Since the sum doubles, \( S.I. = p \).
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ p = \frac{p \times 20 \times t}{100} \]
\[ \Rightarrow t = \frac{100}{20} = 5 \text{ month} \]
12. A sum become its doubles in 4 years by simple interest. Find the rate of Interest per annum?
a. 20%
b. 22.5%
c. 25%
d. 30%
Answer: c. 25%
Explanation:
Let the principal amount be \( p \) and the rate of interest be \( r \).
According to the question, since the sum doubles, \( S.I. = p \).
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ p = \frac{p \times 4 \times t}{100} \]
\[ \Rightarrow t = \frac{100}{4} = 25 \text{} \]
13. . The rate of simple interest for which a sum of money becomes 5 times of itself in 8 years is ?
a. 20%
b. 30%
c. 40%
d. 50%
Answer: Answer: d. 50%
Explanation:
Let the principal amount be \( p \).
Amount after interest will be \( 5p \).
Simple Interest (\( S.I. \)) = \( 5p – p = 4p \).
According to the question:
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ 4p = \frac{p \times 8 \times t}{100} \]
\[ \Rightarrow t = \frac{100 \times 4}{8} = 50 \text{} \]
14. Ramesh invested ₹1,680 at 5% p.a. rate of simple interest in a bank. What amount will he get after 3 years?
a. Rs. 1732
b. Rs. 1700
c. Rs. 1832
d. Rs. 1932
Answer: Answer: d. 50%
Explanation:
Let the principal amount be \( p \).
Amount after interest will be \( 5p \).
Simple Interest (\( S.I. \)) = \( 5p – p = 4p \).
According to the question:
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ 4p = \frac{p \times 8 \times t}{100} \]
\[ \Rightarrow t = \frac{100 \times 4}{8} = 50 \text{} \]
15. How many years will it take for the amount the Rs. 4800 to become Rs. 6960 at simple interest of 15% per annum?
a. 2 years
b. 3 years
c. 4 years
d. 5 years
Answer: b. 3 years
Explanation:
Simple Interest (S.I.) = 6960 – 4800 = 2160
According to the question:
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ 2160 = \frac{4800 \times 15 \times t}{100} \]
\[ \Rightarrow t = \frac{100 \times 2160}{4800 \times 15} = 3 \text{ years} \]
16. A sum of ₹7,600 is invested at 5% per annum simple interest. How much will the sum become after 4 years?
a. Rs. 9120
b. Rs. 8860
c. Rs. 9650
d. Rs. 9990
Answer: a. Rs. 9120
Explanation:
Simple Interest (S.I.) after 4 years will be:
\[ S.I. = \frac{7600 \times 5 \times 4}{100} = 1520 \]
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
Total Amount = Principal + S.I.
\[ \text{Amount} = 7600 + 1520 = 9120 \]
The sum will become ₹9,120 after 4 years.
17. X borrows a sum of Rs. 2,20,000 at the rate of 8% per annum simple interest. At the end of the first year, he repays Rs.27,600 towards return of principal amount borrowed. If X clears all pending dues at the end of the second year. including interest payment that accrued during the first year, how much does he pay at the end of the second year?
a. Rs. 2,27,392
b. Rs. 2,22,336
c. Rs. 2,36,360
d. Rs. 2,25,392
Answer: d. Rs. 2,25,392
Explanation: Year 1:
Interest for the first year:
\[ S.I._1 = \frac{220000 \times 8 \times 1}{100} = 17600 \]
Principal remaining after Year 1 repayment: \( 220000 – 27600 = 192400 \)
Year 2:
Interest for the second year (on remaining principal):
\[ S.I._2 = \frac{192400 \times 8 \times 1}{100} = 15392 \]
Total Pending Dues = Remaining Principal + \( S.I._1 \) + \( S.I._2 \)
\[ \text{Final Payment} = 192400 + 17600 + 15392 = 225392 \]
X pays Rs. 2,25,392 at the end of the second year.
18. If the simple interest for 8 years be equal to 40% of the principal, it will be equal to the principal in how many years?
a. 10 years
b. 15 years
c. 20 years
d. 25 years
Answer: c. 20 years
Explanation:
Let the principal amount be \( p \) and the rate of interest be \( r \).
According to the question, Simple Interest (\( S.I. \)) = \( 40\% \) of \( p = \frac{40p}{100} \).
For \( t = 8 \) years:
\[ \frac{40p}{100} = \frac{p \times r \times 8}{100} \]
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ \Rightarrow r = \frac{40}{8} = 5\% \text{ per annum} \]
Now, we need to find the time (\( t \)) when \( S.I. = p \):
\[ p = \frac{p \times 5 \times t}{100} \]
\[ \Rightarrow t = \frac{100}{5} = 20 \text{ years} \]
It will be equal to the principal in 20 years.
19. A sum of Rs. 1750 is divided into two parts such that the interests on the first part at 8% simple interest per annum and that on the other part at 6% simple interest per annum are equal. The interest on each part is?
a. 50
b. 60
c. 70
d. 80
Answer: b. 60
Explanation:
Let the first part of the amount be \( x \).
Then the second part will be \( (1750 – x) \).
According to the question, the yearly interest from both parts is equal:
\[ x \times \frac{8}{100} = (1750 – x) \times \frac{6}{100} \]
\[ 8x = 10500 – 6x \]
\[ 8x + 6x = 10500 \]
\[ 14x = 10500 \Rightarrow x = 750 \]
The interest on each part is \( 8\% \) of \( 750 \):
\[ \text{Interest} = \frac{750 \times 8}{100} = 60 \]
20. The rate of interest on an amount 6% per annum. If the interest is Rs. 3000 for 4 years. Find the Principal amount?
a. Rs. 10,500
b. Rs. 11,500
c. Rs. 12,500
d. Rs. 13,500
Answer: c. Rs. 12,500
Explanation:
Let the principal amount be \( p \).
According to the question:
\[ 3000 = \frac{p \times 6 \times 4}{100} \]
Using formula: \[ S.I. = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \]
\[ \Rightarrow p = \frac{3000 \times 100}{6 \times 4} = 12500 \]
Pingback: Percentage Objective type Practice Question Set 1 -
Pingback: Discount questions Hindi English: Objective Type Set 1 - Pariksha