Application of Simple Interest in Real Life Situations

Q.

Find the interest on ₹5000 at 5% interest rate in 5 years.

1. ₹1355

2. ₹1225

3. ₹ 1250

4. ₹1275

Q.

In a laboratory, the count of bacteria in a certain experiment was increasing at the rate of 2.5% per hour. Find the number of bacteria at the end of 2 hours if the initial count was 5, 06, 000.

1. 5, 31, 616

2. 5, 28, 976

3. 5, 43, 974

4. 5, 67, 190

Q. A farmer borrowed rs 15000 from a money lender at 13 percentage per annum simple interest. At the end of 3 years he settled the account after paying RS 8000 cash and a motorcycle . Find the value of the motorcycle?

Q.

The train is moving at a uniform speed of 80 kmph. How far will it go in 15 minutes?

1. 10 km

2. 15 km

3. 20 km

4. 13.33 km

Q.

If the rate of interest is reduced from $5\%$ p.a. to $3\frac{1}{2}\%$, find the decrease in a half-year's interest on $Rs.540$

Q.

Will taking a loan be represented as a negative integer? Why?

Q.

The simple interest on a certain sum of money for 3 years at $6\%$ per annum is ₹ 432. Find the Principal

1. ₹ 2400

2. ₹ 2000

3. ₹ 2500

4. ₹ 2700

Q. What sum of money when lent out at $5\%$ for $3$ years will produce the same interest as $₹900$ lent out at $4\%$ for $5$ years?

1. $₹1500$
2. $₹1200$
3. $₹1800$
4. $₹2000$

Q.

Mr. Thomas invested an amount of ₹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 ₹ 3508, what was the amount invested in Scheme B?

1. ₹6500

2. ₹7500

3. ₹6400

4. ₹7000

Q.

Find the interest on 1000 rupees at 10% interest rate in 10 years.

1. Rs 1250

2. Rs 1000

3. Rs 1100

4. Rs. 1355

Q. Which among them is the formula for simple interest ?

1. ( P x R ) / (T x 100)
2. ( P x R x T ) / 100
3. Both are correct
4. None of the above

Q.

A principle of ₹ 40, 000 is deposited in a bank which offers a simple interest at the rate of 10% per annum. Calculate the amount at the end of 2 years.

1. ₹ 48000

2. ₹ 44000

3. ₹ 40000

4. ₹ 42000

Q. What sum will yield an interest of 3927 in 2 years and 4 months at 8% per annum?

Q.

Find the amount to be paid at the end of 3 years in each case:

(a) Principal = Rs 1, 200 at 12% p.a.

(b) Principal = Rs 7, 500 at 5% p.a.

Q.

Solve the following problems.

A certain sum of money amounts to Rs. 1, 512 in 2 years and Rs. 1, 568 in 3 years at S.I. Find the principal and the rate of interest.

Q.

What rate will yield Rs 2400 as interest on the sum of Rs 40000 in 3 years?

1. 6%

2. 2%

3. 4%

4. 3%

Q. Mages brought Rs 12600 at 15%per annum .After 3years hr gave Rs 7070 and a sheep to clear his debt. What is the cost of sheep ?

Q.

David takes a loan of Rs 2000 for one year at 12% per year as rate of interest. He has to pay Rs _____ at the end of one year.

1. 240

2. 2240

3. 12

4. 2012

Q.

David lent ₹27000 to Leo at 8% per annum. If Leo repays the debt after 8 months by giving him a color television and ₹14200 cash, find the price of the television.

(Use simple interest).

1. ₹ 14200

2. ₹ 14500

3. ₹ 15200

4. ₹ 14240

Q. If 15 kgs of sugar costs 1050 rupees, how much must we pay for 25 kgs sugar in rupees?

1. 630
2. 770
3. 1750
4. 1920

Q.

Simple interest on the certain sum at the rate of $10\%$ per annum for 6 years and 7 years differs by Rs.650. Find the sum.

1. Rs.6500

2. Rs. 5500

3. Rs.4500

4. Rs.8500

Q. Tulsiram borrowed some money from a bank for $2\frac{1}{2}$years at the rate of 10% per annum. To repay his debt he had to pay Rs 10, 250 as interest. What was the principal that he had borrowed?

Q. At a certain rate of interest, the interest after 4 years on 5000 rupees principal is 1200 rupees. What would be the interest of 15000 rupees at the same rate of interest for the same period? If Pankaj deposits 1, 50, 000 rupees in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank

Q. Rajini deposited Rs 13, 000 in a bank at the rate of 9 p.c.p.a. She collected Rs 1170 as interest at the end of the period. For how many years had she deposited the money?

Q.

Ramsey paid Rs 36 as interest for 2 years at 12% per year. What is the amount borrowed?

1. Rs 120

2. Rs 180

3. Rs 200

4. Rs 150

Q.

For principal $P,$ rate of interest $R,$ and time period $N$ (in years), what is the simple interest?

1. $\frac{(P+R)\times N}{100}$

2. $\frac{P+R+N}{100}$

3. $\frac{P\times R\times N}{100}$

4. $\frac{P\times (R+N)}{100}$

Q.

How much time will it take for ₹ 450 to yield an simple interest of ₹ 81 at $4.5\%$ per annum?

1. 5 years

2. 4 years

3. 6 years

4. 3 years

Q. Ram and Mohan are partners in a business. Their capitals at the end of the year were Rs. 24, 000 and Rs. 18, 000 respectively. During the year, Ram's drawings and Mohan's drawings were Rs. 4, 000 and Rs. 6, 000 respectively. Profit (before charging interest on capital) during the year was Rs. 16, 000. Calculate interest on capital @ 5% p.a. for the year ended 31st March, 2018.

Q. Rakesh lent out Rs 8000 for 5 years at 15% per annum and borrowed Rs 6000 for 3 years at 12% per annum. How much did he gain or lose?

Q. Suma deposited 25000 rupees in a bank at 6% interest annually

1. 1500, 26500
2. 1000, 26000
3. 1800, 26800
4. None of these