## A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?

A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?

A. Rs. 9025.20
B. Rs. 9200
C. Rs. 9600
D. Rs. 9560

## Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?

Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to how much ?

A. Rs. 992
B. Rs. 1112
C. Rs. 1056
D. Rs. 1182
Principal = 800 SI = 120 Time = 3 year
Rate = (100*120/800*3) = 5%
New rate = 8 % principal = 800 time 3 year
SI = (800*8*3/100) = 192
New amount = 800 + 192= 992

## A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:

A sum was put a simple interest at a certain rate for 2 years. Had it been put at 4% higher rate, it would have fetched Rs. 60 more. The sum is:

A. Rs.750
B. Rs.700
C. Rs.940
D. Rs.820

## A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :

A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :

A. Rs.3100
B. Rs.2700
C. Rs.2200
D. Rs.1800
Let the man invests Rs.x at 6% and Rs.y at 7%
Simple Interest on Rs.x at 6% for 2 years + Simple Interest on Rs.y at 7% for 2 years = Rs.354
x×6×2/100+y×7×2/

## You deposit \$600 into a 6 month certificate of deposit. After 6 months the balance is \$618. Find the simple annual interest rate

You deposit \$600 into a 6 month certificate of deposit. After 6 months the balance is \$618. Find the simple annual interest rate

A. 6%
B. 5%
C. 7%
D. 8%
1. To find the interest, subtract the principal from the balance.
\$618 – \$600 = \$18
2.Use the simple interest formula and solve for r.
I = Prt
18= 600 x r x (1/2)
r= 0.06 =6%

## How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?

How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?

A. 65 years
B. 56 years
C. 45 years
D. 57 years
Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the numberof years for which it is invested, r is the rate of interest per annum
In this case, Rs. 1250 has become Rs.10,000.
Therefore, the interest earned = 10,000 – 1250 = 8750.
8750 = [(1250 x n x 12.5)/100]
=> n = 700 / 12.5 = 56 years.

## What is the rate of interest at which Rs.150 becomes Rs. 220 in 10 years.

What is the rate of interest at which Rs.150 becomes Rs. 220 in 10 years.

A. 11/3%
B. 14/3%
C. 12%
D. 14%

## A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is :________?

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is :________?

A. Rs. 700
B. Rs. 690
C. Rs. 650
D. Rs. 698
Simple Interest (SI) for 1 year = 854-815 = 39
Simple Interest (SI) for 3 years = 39 × 3 = 117
Principal = 815 – 117 = Rs.698

## A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.

A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.

A. Rs.4000
B. Rs.9000
C. Rs.5000
D. Rs.6000
Let sum = P and original rate = R. Then
[(P * (R+2) * 3)/100] – [ (P * R * 3)/100] = 360
3P*(R+2) – 3PR = 36000
3PR + 6P – 3PR = 36000
6P = 36000
P = 6000

## A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

A. 5%
B. 8%
C. 12%
D. 15%
S.I. for 3 years = Rs. (12005 – 9800) = Rs. 2205.
S.I. for 5 years = Rs.[ (2205/3) x 5 ] = Rs.3675
Principle = Rs.(9800-3675) = Rs.6125
Rate=12%