Simple Interest with Explanation

Q8. In one year the simple interest on a sum of money at 4.5% per annum is Rs. 202.50. Find the additional interest on the same amount at 5% per annum in 1 year?

A. Rs. 25 B. Rs. 22.50
C. Rs. 42.25 D. Rs. 20.25

Q9. The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. What is the difference between their rate of interest?

A. 0.3% B. 0.5%
C. 0.2% D. 0.1%

Q10. P charges at 7% p.a. simple interest to Q and R and lends a certain sum to R and Rs. 2500 to Q. After 4 years, P completely receives Rs. 1120 as interest from Q and R. Find the sum lent to R?

A. Rs. 3100 B. Rs. 1500
C. Rs. 6400 D. Rs. 900

Q11. Vijay decides to invest a certain sum of money in three different fixed deposit P, Q, and R having the rate of interest 10% per annum, 12% per annum, and 15% per annum respectively. If total interest collected by Vijay in one year is Rs. 3200 and the money invested in fixed deposit R is 240% of the amount invested in Q and 150% of the sum invested in P, what is the amount invested in fixed deposits Q?

A. Rs. 6000 B. Rs. 5500
C. Rs. 5000 D. Rs. 4500

Q12. In 3 years, at a particular rate of interest Rs. 800 becomes Rs. 956. In case, the rate of interest in increased by 4%, find the amount will Rs. 800 become in 3 years?

A. Rs. 1100 B. Rs. 1099
C. Rs. 1021 D. Rs. 1052

Q13. A simple interest of Rs. 252 is obtained by an amount of Rs. 1600 in 2 years and 4 months. What is the rate of interest?

A. 6

B. 6

C. 5

D. 7


Q14. The increment in the annual rate of simple interest from 10% to 12.5%, increases Ankit's income by Rs. 1250. What is his principal(in Rs.)?

A. Rs. 55,000 B. Rs. 40,000
C. Rs. 50,000 D. Rs. 55,000