Simple Interest Problems with Solutions for Bank Exams
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
How much interest will be received in 2.5 years at the rate of 4 percent simple interest of Rs. 3,680?
(A) Rs. 72
(B) Rs. 368
(C) Rs. 92
(D) Rs. 455
Correct Answer : B
A sum is to be paid back in 3 equal annual instalments. The interest is compound annually at 30% per annum. If each instalment be Rs.21970 then what is the sum?
(A) Rs.39,800
(B) Rs.39,900
(C) Rs.39,950
(D) Rs.39,990
Correct Answer : B
Mohit borrowed Rs. 22000 at 5% simple interest repayable in 5 equal installments. What will be the annual installment payable by him?
(A) Rs 4800
(B) Rs 5500
(C) Rs 4600
(D) Rs 500
Correct Answer : C
If the simple interest on a certain sum of money for 2 years in one fifth of the Principal, then find rate of interest per annum.
(A) 25%
(B) 15%
(C) 10%
(D) 20%
Correct Answer : C
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Vikram Singh
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