Simple Interest

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

Click on each question to see answer & solution.

Question No: #31

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
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Question No: #32

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 ΒΌ 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
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Question No: #33

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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Question No: #34

A man wants to divide a sum of Rs 37,500 among his son and daughter aged 12 years and 14 years respectively in such a way that on attaining the age of 18 years each gets the same amount at 5% p.a. simple interest. Find the share of son.
Ans: Rs. 18,000
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Question No: #35

Ramen Babu deposited a total of Rs 3,70,000 in three banks. The annual simple interest rates of the three banks are 4%, 5% and 6% respectively. After 1 year interest received from each of the three banks is equal. How much money did he deposit in three banks?
Ans: 1,50,000; 1,20,000; 1,00,000
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Question No: #36

Amal Babu deposited Rs 93,000 at 5% simple interest per annum for 3 years in a post office, 5 years in a state-owned bank and 2 years in a cooperative bank in such a way that the amount of interest received from each place is equal. How much money did Amal babu deposit at each place?
Ans: Rs. 30,000/- in post-office, Rs. 18,000/- in state-owned bank & Rs. 45,000 in cooperative bank.
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Question No: #37

A person deposits part of his savings in the bank and the rest in the post office. He would earn him 50 rupees more at the end of the year if he had kept all the money in the bank. If the annual simple interest rates in the bank and post office are 10% and 8% respectively, where did he keep the money? His savings amount was Rs.5700.
Ans: Post office = Rs. 2500, Bank = Rs. 3200
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