Question : In how much time (in years) will a sum of Rs. 9,500 amount to Rs. 17,622.5 at the rate of 4.5% per annum at simple interest?
Option 1: 21
Option 2: 23
Option 3: 19
Option 4: 20
Correct Answer: 19
Solution : Total amount = Rs. 17,622.5 Sum = Rs. 9,500 Rate = 4.5% Let $n$ be the time. Simple Interest = Total amount – Sum = 17622.5 – 9500 = Rs. 8,122.5 We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ $⇒ 8122.5 = \frac{9500×n×4.5}{100}$ $\therefore n= 19$ Hence, the correct answer is 19.
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Question : A sum amount doubles in 8 years by simple interest. Then the rate of simple interest per annum is:
Option 1: 10%
Option 2: 12.5%
Option 3: 15%
Option 4: 20%
Question : A sum of Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will the same sum become in 3 years?
Option 1: Rs. 1025
Option 2: Rs. 1042
Option 3: Rs. 1052
Option 4: Rs. 1024
Question : On a certain sum of money, the simple interest for 2 years is Rs. 350 at the rate of 4% per annum. It was invested at compound interest at the same rate for the same duration as before, how much more interest would be earned?
Option 1: Rs. 3.50
Option 2: Rs. 7
Option 3: Rs. 14
Option 4: Rs. 35
Question : On a certain sum, the difference between compound interest and simple interest at 10% per annum for 2 years is Rs.250. The sum is _________.
Option 1: Rs.25,450
Option 2: Rs.26,550
Option 3: Rs.25,000
Option 4: Rs.26,000
Question : A sum amounts to INR 7,656 in 4 years and to INR 8,120 in 5 years at a certain simple interest rate percent per annum. The rate of interest is:
Option 1: 4%
Option 2: 3%
Option 3: 7%
Option 4: 8%
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