Question : If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years and 6 months, at the same rate of simple interest per annum, the rate of simple interest is:
Option 1: $21\frac{3}{7}$%
Option 2: $21\frac{2}{7}$%
Option 3: $21\frac{1}{7}$%
Option 4: $21\frac{5}{7}$%
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Correct Answer: $21\frac{3}{7}$%
Solution : Given: The sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years and 6 months, at the same rate of simple interest. Simple interest of 2 years 6 months = 5500 – 4000 = 1500 Simple interest of 1 year = $1500×\frac{2}{5} =600$ Simple interest of 2 years = 600 × 2 = 1200 So, principal = 4000 – 1200 = 2800 Simple interest = $\frac{\text{Principal×Rate×Time}}{100}$ ⇒ 1200 = $\frac{2800×r×2}{100}$ ∴ $r=21\frac{3}{7}$% Hence, the correct answer is $21\frac{3}{7}$%.
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Question : A sum becomes Rs.15,500 in 7 years on simple interest at the rate of 30 percent per annum. What is the total interest for the 7 years?
Option 1: Rs. 12,200
Option 2: Rs. 1,47,000
Option 3: Rs. 10,500
Option 4: Rs. 11,500
Question : What is the rate of interest per annum for simple interest at which Rs. 880 amounts to Rs. 913 in $1 \frac{1}{2}$ years?
Option 1: $2 \frac{2}{3}$%
Option 2: $2 \frac{1}{4}$%
Option 3: $2 \frac{1}{2}$%
Option 4: $2 \frac{1}{3}$%
Question : In how many years will a sum of Rs. 3000 yield an interest of Rs.1080 at 12% per annum simple interest?
Option 1: $4$ years
Option 2: $3$ years
Option 3: $5$ years
Option 4: $2\frac{1}{2}$ years
Question : A sum of Rs. 400 becomes Rs. 448 at simple interest in 2 years. In how many years will the sum of Rs. 550 amounts to Rs. 682 at the same rate?
Option 1: 2 years
Option 2: 3 years
Option 3: 3.5 years
Option 4: 4 years
Question : If the difference between the compound interest and simple interest on a certain sum at the rate of 5% per annum for 2 years is Rs. 20, then the sum is:
Option 1: Rs. 2000
Option 2: Rs. 4000
Option 3: Rs. 6000
Option 4: Rs. 8000
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