Simple Interest | Learn Mathematics Online

Simple Interest

Study Material (PDF)

Study Material (PDF)

Click on each question to see answer & solution.

Question No: #21

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

Question No: #22

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%

Question No: #23

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

Question No: #24

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

Question No: #25

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%

Question No: #26

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

Question No: #27

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

Question No: #28

A businessman took a loan of Rs 50,000 from a bank at a simple interest rate of 12% per annum. After 3 years he repaid a total of Rs.25,000 to the bank. How much money will he have to pay to the bank if he wants to repay his loan in full after 5 more years?

Ans: Rs. 53320

Question No: #29

A borrows Rs.960 from B at a simple interest rate of 6% per annum on condition that he repays the loan in 4 annual installments from the date of borrowing. Pay only ¼ of the principal in each of the first three installments and repay the entire loan in the last installment. How much will A pay in the fourth installment?

Ans: Rs. 384

Question No: #30

Rahim Babu deposits money in the bank for each of his two daughters in such a way that when each daughter turns 18, each daughter will get Rs 1,20,000. The annual simple interest rate of the bank is 10% and the current ages of the girls are 13 years and 8 years respectively. How much money did he keep in the bank for each girl?

Ans: Rs. 80,000; Rs. 60,000

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