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01. A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
A. Rs. 35 B. Rs. 245
C. Rs. 350 D. Cannot be determined

Answer and Explanation

Answer: Cannot be determined

Explanation:
We need to know the S.I., principal and time to find the rate.
Since the principal is not given, so data is inadequate.

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02. 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%

Answer and Explanation

Answer: 12%

Explanation:

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03. A sum of Rs. 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs. 362.50 more is lent but at the rate twice the former. At the end of the year, Rs. 33.50 is earned as interest from both the loans. What was the original rate of interest?
A. 3.6% B. 4.5%
C. 5% D. 6%
E. None of these

Answer and Explanation

Answer: None of these

Explanation:

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04. Mr. Thomas invested an amount of Rs. 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs. 3508, what was the amount invested in Scheme B? 
A. Rs. 6400 B. Rs. 6500
C. Rs. 7200 D. Rs. 7500

Answer and Explanation

Answer: Rs. 6400

Explanation:

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05. What is the rate of simple interest if the value of the principle amount increases by 60% in 4 years?
A. 12% B. 15%
C. 11% D. 10%

Answer and Explanation

Answer: 15%

Explanation:

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06. Sneha borrowed a sum of Rs.800 @ 2.5% per annum and another sum of Rs.1000 @ 4% per annum from Priyanka. They both agreed that Sneha would return the whole amount only when the total interest will amount to Rs.400. For how many years did Sneha borrow the money?
A. 4 years B. 6 years
C. 6 years 8 months D. 5 years 8 months

Answer and Explanation

Answer: 6 years 8 months

Explanation:

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07. If a person invested in all a sum of Rs.2100 at 2%, 4% and 8% per annum simple interest and got the same interest in all the three cases after a period of one year, then find the sum he invested at 8% per annum.
A. 1200 B. 300
C. 600 D. 1800

Answer and Explanation

Answer: 300

Explanation:

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08. Ajit invested a sum of Rs.14000 @ 6% per annum and another sum at 10% per annum simple interest. Find the value of the second amount he invested if the total interest at the end of 1 year on the total amount invested became 9% per annum.
A. Rs.56000 B. Rs.46000
C. Rs.48000 D. Rs.42000

Answer and Explanation

Answer: Rs.42000

Explanation:

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09. Jay lends to Ajay a sum of Rs.3000 and to Vijay a certain amount @ 5% per annum. If after 5 years he receives a total of Rs.2000 as interest then find the amount he lent to Vijay.
A. Rs.8000 B. Rs.6000
C. Rs.5000 D. Rs.4000

Answer and Explanation

Answer: Rs.5000

Explanation:

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10. In what time will the simple interest on any sum of money at 3 ¾ % be 0.09375 times the principal?
A. 2 years  B. 2.2 years
C. 20 months D. 30 months

Answer and Explanation

Answer: 20 months

Explanation:
Let the Principal be Rs. X
SI – 0.09375 X
SI = PRT / 100
∴ X × 15/4 × T/100 = 0.09375X
∴ T = (0.09375 × 4 × 100) / 15
= 2.5 years

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