Simple Interest

Study Material (PDF)
Self Assesment
Study Material (PDF)
Self Assesment

Click on each question to see answer & solution.

Question No: #21

If the annual interest is 1/16 of the original, how much will be the interest on 690 rupees in 8 months?
Ans: Rs. 198.375
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Question No: #22

As the annual simple interest rate goes from 4% to 3`\frac{3}{4}`%, the annual income of a person is reduced by Rs.60. Find the person's capital.
Ans: 24,000/-
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Question No: #23

As the annual simple interest rate of a bank fell from 5% to 4½%, the annual income of a person decreased by Rs.750. How much money did that person put in the bank?
Ans: Rs. 15,000
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Question No: #24

For a certain principal, amount is Rs. 944 in 3 years at certain rate simple interest. If the annual interest rate increases by 25%, that amount is Rs.980 over the same period. Determine the principal and the annual simple interest rate.
Ans: Principal: Rs. 800, Rate of simple interest: 6%
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Question No: #25

A bank pays simple interest at the rate of 5% per annum. In that bank Mukesh Babu deposited Rs 15,000 in the beginning of the year, after 3 months he withdrew Rs 3000 and after another three months of withdrawal he again deposited Rs 8000. Determine how much money Mukesh Babu will receive with interest at the end of that year.
Ans: Rs 20,837.50
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Question No: #26

Fatema bibi deposits Rs. 100 on the first day of every month in a monthly savings scheme. In this way, she has deposited money for one year. If the rate of simple interest is 6% per annum, then let us determine the amount she will get at the end of the year.
Ans: Rs. 1239/-
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Question No: #27

A person borrows Rs 20,000 at 15% simple interest per annum while building a house and borrows Rs 15,000 from the cooperative society at 12% simple interest per annum at the time of his daughter's marriage one year later. How much cash will the person have, if he repaid both loans with interest by getting a retirement gratuity of Rs.56,000 after three years of his daughter's marriage?
Ans: Rs. 3600
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Question No: #28

Find the capital and annual simple interest if a capital yields Rs. 7100 in 7 years and Rs. 6200 in 4 years at the same annual percentage rate.
Ans: Rs. 5000, 6%
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Question No: #29

A man takes a loan of Rs 4000 at 7% simple interest per annum and exactly one year after the first loan takes a second loan of Rs 4000 at 8% simple interest per annum. How many years after taking the first loan will the interest on his two loans be equal?
Ans: 8 years
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Question No: #30

A fisheries co-operative society borrowed some money from a co-operative bank for fish farming on the condition that interest and `\frac{1}{5}` of the principal would be repaid every two years at the rate of 9% simple interest per annum. If the first installment is Rs.19000 after two years, calculate how much the society borrowed.
Ans: Rs. 50,000
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