Correct Answers: | |

Wrong Answers: | |

Unattempted: |

### Question 1

Mr. X puts an amount of Rs. 4100 in a simple interest scheme. If he gets a total amount of Rs. 4510 after 5 months, what is the rate of interest?

**A**

${1/6}$% p.a.

**B**

2% p.a.

**C**

${1/3}$% p.a.

**D**

${5/12}$% p.a.

**Soln.**

**Ans: a**

The interest is I = 4510 - 4100 = 410. So R = $(I × 100)/(T × P)$. Solving, we get R = $(410 × 100)/(5 × 4100)$ = 2% per month, which is ${1/6}$% per annum. *Please note that since the time is in months the rate is also p.m.*

### Question 2

An amount of Rs. 1000 is split into two parts. The first part is invested @2% for 6 years, and the second @8% for 14 years. What is the ratio of the first part is to the second part if they yield the same amount of simple interest?

**A**

$9{1/3}$.

**B**

$9{5/12}$.

**C**

$9{1/4}$.

**D**

$9{1/2}$.

**Soln.**

**Ans: a**

Let the amounts be x and y. We have x × r_{1} × t_{1} = y × r_{2} × t_{2}. We can see that x : y is same as r_{2}t_{2} : r_{1}t_{1}. The ratio is (8 × 14) : (2 × 6) = 112 : 12, or same as $9{1/3}$. *Please note that the answer is independent of the value of the total amount.*

### Question 3

Mr. X borrowed Rs. 900 from Mr. Y on simple interest @2% for 19 years. He then adds an amount x to it and lends it to Mr. Z @11% for the same duration. What is x if he gains Rs. 2584?

### Question 4

The interest on a certain principal sum is 1/16 times the sum. What is R, the rate of interest, if the time is R years?

### Question 5

What is the interest on Rs. 12500 @6% for 73 days starting from Jan 1, 2601?

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This Blog Post/Article "Simple Interest Quiz Set 016" 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