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INET Simple Interest Test 267
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INET Simple Interest Test 267

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  • Question 1/5
    1 / -0
    Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs.432 a interest at the end of the loan period, what was the rate of interest ?
    Solutions

    Let, rate of interest =  p.a.

    Then, no of years =

    Now,

     

     

     

      p.a.

  • Question 2/5
    1 / -0
    A sum of money invested at simple interest amounts to Rs 6192 at the end of six years and Rs, 8784 at the end of twelve years. Find the principle
    Solutions

    It is given that

    Amount after 6 years= Rs.6192

    Amount after 12 years=Rs.8784

    Interest from year to year i.e., interest for a period of 6 years

    Principal=Amount after 6 years- Interest for 6 years

  • Question 3/5
    1 / -0
    Ankit invested a certain sum at certain interest rate for 1 year. If he had invested at the rate of 5% more, then he would have got Rs. 1250 more. What is the amount for investment?
    Solutions

    Let the investment be x and rate of interest be r

    So after one year earning = x(1 + r)

    Now, if R = r + 0.05

    Then, earning = x(1 + r + 0.05)

    According to the question the difference in earnings is Rs. 1250

    Therefore, x(1 + r + 0.05) - x(1 + r) = 1250

    ⇒ 0.05x = 1250

    ⇒ x = Rs. 25000

  • Question 4/5
    1 / -0
    A certain sum is invested at simple interest at x% p.a. for 4 years. Had it been invested at (x + 7)% p.a., the simple interest would have been Rs. 9,240 more than the earlier one. What is the sum?
    Solutions
    Let I is the simple interest on Rs. P invested at simple interest at x% p.a. for 4 years.

    Hence , I = ………………..(1)

    Also , (I + 9240) = ……………..(2)

    Subtract (1) from (2) , we get

    ⇒

    ⇒

    Hence, Sum is Rs. 33000

  • Question 5/5
    1 / -0
    When two equal amounts are deposited for 5 years and 3 years at the rate of 7% and 9% per annum respectively and the difference of their simple interest is Rs. 475. Then find the deposited amount?
    Solutions

    Let, 100k is the sum of money to be deposited

    Difference in S.I. = (5 × 7 – 3 × 9) k = 475

    ⇒ 8k = 475

    ⇒ k = 475/8

    100k = 100 × 475/8 = Rs. 5937.5.

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