Simple interest on a certain sum of money is $1/2$ of the sum for 20 years. What is the rate of interest?
The interest on Rs. 1000 @7% for a certain number of days starting from Jan 1, 2001 is Rs. 14. How many days?
The interest on a certain principal sum is 4/81 times the sum. What is R, the rate of interest, if the time is R years?
The interest on Rs. 13000 @7% for a certain number of days starting from Jan 1, 1601 is Rs. 182. How many days?
An amount of Rs. 2143 is split into two parts. The first part is invested @7% for 2 years, and the second @2% for 7 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 (2 × 7) : (7 × 2) = 14 : 14, or same as 1. Please note that the answer is independent of the value of the total amount.
This Blog Post/Article "Simple Interest Quiz Set 013" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2020-02-07. Published on: 2016-05-01