Question : A sum fetched a total simple interest of Rs. 7728, at the rate of 7% per annum, in 8 years. What is the sum?
Option 1: Rs. 13800
Option 2: Rs. 16560
Option 3: Rs. 11040
Option 4: Rs. 8280
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Correct Answer: Rs. 13800
Solution : Given: Total simple interest = Rs. 7728 Rate = 7% per annum Time: 8 years. Simple interest (SI) = $\frac{(\text{Principal × Rate × Time})}{100}$ Let the principal amount be P. So, 7728 = $\frac{P × 7 × 8}{100}$ ⇒ P = $\frac{772800}{7 × 8}$ ⇒ P = $\frac{772800}{56}$ $\therefore$ P = Rs. 13800 Hence, the correct answer is Rs. 13800.
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Question : The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is Rs. 840. The rate of interest for which the same amount of interest can be received on the same sum after 5 years is:
Option 1: 7% per annum
Option 2: 8% per annum
Option 3: 9% per annum
Option 4: 10% per annum
Question : A sum of Rs. 2,000 becomes Rs. 3,120 in two years at a certain rate of simple interest. What is the rate of interest per annum?
Option 1: 34% per annum
Option 2: 33% per annum
Option 3: 30% per annum
Option 4: 28% per annum
Question : At a certain sum of money with the interest rate of 6% per annum for 4 years, the simple interest is Rs. 4500. Find the compound interest (compounding annually) of 2 years at the same sum when the rate of interest is 4% per annum.
Option 1: Rs. 1,530
Option 2: Rs. 1,430
Option 3: Rs. 1,830
Option 4: Rs. 1,560
Question : The simple interest on a certain sum for 3 years at 8% per annum is INR 9120 less than the simple interest on the same sum for 7 years at 8% per annum. Find the sum.
Option 1: INR 28,500
Option 2: INR 28,250
Option 3: INR 28,750
Option 4: INR 28,000
Question : A sum of INR 12,000 amounts to INR 15,000 in 5 years at the rate of simple interest. What is the rate of interest per annum?
Option 1: 8%
Option 2: 7%
Option 3: 6%
Option 4: 5%
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