Simple Interest Formula with Example for SSC and Banking Exams
Simple Interest Formula with Example for Competitive Exams:
Here we are providing Simple Intrest important questions and answers based on the above formulas for your convenience and good practice will help you to improve your score by covering the maths topic. Students who understand mathematics as a very difficult subject, start their practice -
Q : If a certain sum of money become thrice of itself in 5 years 4 months at simple interest, then what will be the yearly rate of interest (in %)?
(A) 37.5
(B) 42.25
(C) 18.75
(D) 27.5
Correct Answer : A
The simple interest on a sum of money for 3 years is ₹240 and the compound interest on the same sum, at the same rate for 2 years is ₹170. The rate of interest is
(A) $$7{9\over 17}\%$$
(B) $$29{1\over 6}\%$$
(C) $$12{1\over 2}\%$$
(D) $$5{5\over 17}\%$$
Correct Answer : C
A person invested a total sum of Rs 7900 in three different schemes of simple interest at 3% , 5% and 8% per annum. At the end of one year he got same interest in all three schemes. What is the money (in Rs) invested at 3 %?
(A) 4000
(B) 5600
(C) 2900
(D) 3500
Correct Answer : A
Rakesh invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5 years. Raj sees this and invests Rs. 6250 for 3 years at the same rate of interest. How much interest does Raj get?
(A) Rs. 3750
(B) Rs. 6250
(C) Rs. 3125
(D) Rs. 4250
Correct Answer : A
Ankur borrowed sum money from Megha at 8 % P.a simple interest and twice the amount from Harshita at 9 % P.a simple interest. He then added some more money of his own and lent the entire amount to Shalini at 10 % p.a simple interest. At the end of the year Ankur gained 14,000. If Ankur lend ₹ 40,000 to Shalini, then how much did Ankur borrow from Megha ?
(A) ₹ 15,000
(B) ₹ 10,000
(C) ₹ 25,000
(D) ₹ 20,000
Correct Answer : B
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Vikram Singh
Providing knowledgable questions of Reasoning and Aptitude for the competitive exams.
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