An amount of Rs. 2143 is split into two parts. The first part is invested @8% for 6 years, and the second @6% for 8 years. What is the ratio of the first part is to the second part if they yield the same amount of simple interest?
Let the amounts be x and y. We have x × r1 × t1 = y × r2 × t2. We can see that x : y is same as r2t2 : r1t1. The ratio is (6 × 8) : (8 × 6) = 48 : 48, or same as 1. Please note that the answer is independent of the value of the total amount.
An investor puts an amount of Rs. 3200 in a simple interest scheme. If the rate of interest is 4%, how long does he have to wait for getting an amount of Rs. 3840?
An investor puts an amount of Rs. 3000 in a simple interest scheme. If the rate of interest is 6% per month, how long does he have to wait for getting an amount of Rs. 4080?
The simple interest on a certain principal sum @9% for a period of 7 years is Rs. 3087. What is the sum?
Simple interest on a certain sum of money is $1/4$ of the sum for 5 years. What is the rate of interest?
This Blog Post/Article "Simple Interest Quiz Set 006" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-06-22.