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### Question 1

What is the interest on Rs. 7500 @6% for 73 days starting from Jan 1, 2001?

### Question 2

An amount of Rs. 1000 is split into two parts. The first part is invested @4% for 2 years, and the second @10% for 6 years. What is the ratio of the first part is to the second part if they yield the same amount of simple interest?

**A**

$7{1/2}$.

**B**

$7{5/8}$.

**C**

$7{3/8}$.

**D**

$7{3/4}$.

**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 (10 × 6) : (4 × 2) = 60 : 8, or same as $7{1/2}$. *Please note that the answer is independent of the value of the total amount.*

### Question 3

Mr. X puts an amount of Rs. 1300 in a simple interest scheme. If he gets a total amount of Rs. 1404 after 2 months, what is the rate of interest?

**A**

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

**B**

4% p.a.

**C**

${1/2}$% p.a.

**D**

${7/12}$% p.a.

**Soln.**

**Ans: a**

The interest is I = 1404 - 1300 = 104. So R = $(I × 100)/(T × P)$. Solving, we get R = $(104 × 100)/(2 × 1300)$ = 4% per month, which is ${1/3}$% per annum. *Please note that since the time is in months the rate is also p.m.*

### Question 4

There are two simple interest investment options I and II. The rate of interest in option I is ${3/4}$ times the rate for option II. The time period in option I is 4 times that for the option II. What is the ratio of interest of option I to option II, if the same amount is invested in either?

### Question 5

What is the interest on Rs. 22000 @3% for 73 days starting from Jan 1, 2601?

This Blog Post/Article "Simple Interest Quiz Set 018" 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