Simple Interest and Compound Interest - 12 Repeated Questions in Exams

Ques 1.

 A sum was invested at simple interest at a certain interest for 2 years. It would have fetched Rs. 60. more had it been invested at 2% higher rate. What was the sum
(a) Rs 1500
(b) Rs 1300
(c) Rs 2500
(d) Rs 1000

Ans 1. Since SI si directly proportional to Rate of interest 2 % higher rate fetched Rs. 60 more
It means  this sum will give SI of Rs. 60
If invested at 2% rate for  2 years

Ques 2.

The difference between simple and compound interest on a sum of money at 5% per annum is Rs .25 .What is the sum ?'
(a) Rs 5000
(b) Rs 10,000
(c) Rs. 4000
(d) Data insufficient

Ans 2.  It cannot be determined

Ques 3.

Two equal sums were borrowed at 8% simple interest per annum for 2 years and 3 years respectively.The difference on the interest was Rs 56.The sum borrowed were
(a) Rs . 690
(b) Rs . 700
(c) Rs. 740
(d) Rs 780

Ans 3.

Ques 4.

If the difference between the simple interest and compound interest on some prinicpal amount at 20% per annum for 3 years in Rs 48,then the principle amount must be
(a) Rs. 550
(b) Rs. 500
(c) Rs. 375
(d) Rs. 400

Ans 4. 

Ques 5.

Raju lent Rs. 400 to Ajay for 2 years, and Rs. 100 to Manoj for 4 Years and received together form both Rs. 60 as interest .Find the rate of interest, if simple interest is being calculated.
(a) 5 %
(b) 6 %
(c) 8%
(d) 9 %

Ans 5. 

Ques 6.

In what time will Rs 8000 amount to 40,000 at 4% per annum ? ( simple interest being reckoned )
(a) 100 years
(b) 50 years
(c) 110 years
(d) 160 years

Ans 6. 

Ques 7.

A sum of money becomes 4 times at simple interest i 10 years.What is the rate of interest?
(a) 10%
(b) 20 %
(c) 30%
(d) 40%

Ans 7. 

Ques 8.

A sum of money placed at compound interest doubles itself in 3 years .In how many years will it amount to 8 times itself?
(a) 9 years
(b) 8 years
(c) 27 years
(d) 7 years

Ans 8.

Ques 9.

Divide Rs 6000 into two parts so that simple interest on the first part for 2 years at 6 % p.a. may be equal to the simple interest on the second part for 3 years at 8% p.a.
(a) Rs. 4000, Rs 2000
(b) Rs. 5000. Rs 1000
(c) Rs. 3000, Rs 3000
(d) None of these

Ans 9.

Ques 10

A sum of money becomes 7/4 of itself in 6 years at a certain rate of simple interest. Find the rate of interest.
(a) 12%
(b) 12.5%
(c) 8%
(d) 14%

Ans 10.

Ques 11.

Sanjay borrowed Rs.900 at 4 % p.a. and Rs 1100 at 5% p.a. for the same duration.He had to pay Rs. 364 in all as interest .What is the time period in years?
(a) 5 Years
(b) 3 Years
(c) 2 years
(d) 4 years

Ans 11.

Ques 12.

A sum of Rs. 600 amounts to Rs. 720 in 4 years at simple Interest. What will it amount to if the rate of interest in increased by 2 % ?
(a) Rs. 648
(b) Rs. 768
(c) Rs. 726
(d) Rs. 792

Ans 12.