Simple Interest Questions for Competitive 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
A sum of money was lent at simple interest at certain rate for 3 years. Had it been lent at 2.5 % per annum higher rate, it would have fetched ₹ 540 more. The money lent was
(A) ₹ 6840
(B) ₹ 7200
(C) ₹ 6400
(D) ₹ 6472
Correct Answer : B
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 rate of simple interest annum of bank being decreased from 5 % to 3.5 %, the annual income of a person from interest was less by ₹ 105. The sum deposited at the bank was
(A) ₹ 7,200
(B) ₹ 6,800
(C) ₹ 7,000
(D) ₹ 6,000
Correct Answer : C
A sum was invested on simple interest at a certain rate for 2 years. Had it been put at 3 % higher. rate, it would have fetched ₹ 72 more. The sum is
(A) ₹ 1,600
(B) ₹ 1,800
(C) ₹ 1,200
(D) ₹ 1,500
Correct Answer : C
₹ 26100 is divided between Ram and Shyam so that the interest that Ram receives in 3 years is the same as that Shyam receives in 6 years. If the interest rate of 4 % per annum then Ram's share is
(A) ₹ 8,700
(B) ₹ 19,000
(C) ₹ 8,500
(D) ₹ 17,400
Correct Answer : D
Mr. Dutta desired to deposit his retirement benefit of ₹3 lacs partly to a post office and partly to a bank at 10 % and 6 % simple interests respectively. If his monthly interest income was ₹ 2000, then the difference of his deposits in the post office and in the bank was -
(A) ₹ 40,000
(B) ₹ 50,000
(C) ₹ 1,00,000
(D) ₹ Nil
Correct Answer : D
Equal sum of money are lent to X and Y at 7.5 % per annum for a period of 4 years and 5 years respectively. If the difference in interest, paid by them was 150, the sum lent to each was
(A) ₹ 2000
(B) ₹ 3000
(C) ₹ 500
(D) ₹ 1000
Correct Answer : A
A sum of ₹ 1750 is divided into two parts such that the interests on the first part at 8 % simple interest per annum and that on the other part at 6 % simple interest per annum are equal. The interest on each part (in rupees) is
(A) 70
(B) 40
(C) 60
(D) 65
Correct Answer : C
The simple interest on a sum of money is $$8\over 25$$ of the sum. If the number of years is numerically half the rate percent per annum, then the rate percent per annum is
(A) 6%
(B) 8%
(C) 5%
(D) 4%
Correct Answer : B