Simple Interest Questions and Answers
A man took a loan from a bank at the rate of 12% per annum at simple interest. After 3 years he had to pay ₹ 5,400 as interest only for the period. The principal amount borrowed by him was:
(A) ₹ 20,000
(B) ₹ 15,000
(C) ₹ 2,000
(D) ₹ 10,000
Correct Answer : B
Explanation :
In what time will ₹ 72 become ₹ 81 at $$6{1\over4}$$ % per annum simple interest?
(A) 2 years
(B) 3 years
(C) 2 years 6 months
(D) None of these
Correct Answer : A
Explanation :
Mohan lent some amount of money at 9% simple interest and an equal amount of money at 10% simple interest each for two years. If his total interest was Rs. 760, what amount was lent in each case?
(A) 1700
(B) 1800
(C) 1900
(D) 2000
Correct Answer : D
Explanation :
A lends ₹ 2500 to B and a certain sum to C at the same time at 7% annual simple interest. If after 4 years, A altogether receives ₹ 1120 as interest from B and C, the sum lent to C is
(A) ₹ 4000
(B) ₹ 1500
(C) ₹ 700
(D) ₹ 6500
Correct Answer : B
Explanation :
A lends 2500 to B and a certain sum to C at the same time at 7% annual simple interest. If after 4 years, A altogether receives 1120 as interest from B and C, the sum lent to C is-
(A) 700
(B) 6500
(C) 4000
(D) 1500
Correct Answer : D
Explanation :