Question : The simple interest on a sum for 5 years is Rs. 7,590. The rate of interest for the first 3 years is 6 percent per annum and for the next 2 years is 14 percent per annum. What is the sum?
Option 1: Rs. 17,000
Option 2: Rs. 15,000
Option 3: Rs. 14,000
Option 4: Rs. 16,500
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Correct Answer: Rs. 16,500
Solution : Given: The simple interest on a sum for 5 years is Rs. 7,590. Let the principal be Rs. $P$. We know, Simple interest = $\frac{\text{Principal × Time × Rate}}{100}$ The simple interest for the first 3 years at a 6% rate = $\frac{P\times 3\times 6}{100}=\frac{18P}{100}$. The simple interest for the first 2 years at a 14% rate = $\frac{P\times 2\times 14}{100}=\frac{28P}{100}$ According to the question, $\frac{18P}{100}+\frac{28P}{100}=7590$ ⇒ $\frac{46P}{100}=7590$ ⇒ $P=\frac{7590\times 100}{46}=$ Rs. 16,500 Hence, the correct answer is Rs. 16,500.
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Question : Rohan borrows a certain sum at simple interest. The rate of interest is 3 percent per annum for the first 3 years, 4 percent per annum for the next 5 years, and 6 percent per annum for the next 7 years. If he paid Rs. 2485 as interest, then what is the sum borrowed?
Option 1: Rs. 2500
Option 2: Rs. 3500
Option 3: Rs. 4000
Option 4: Rs. 3600
Question : A sum of Rs. 11,500 amounts to Rs. 12,880 in 2 years at the rate of simple interest. What is the rate of interest?
Option 1: 6% per annum
Option 2: 4% per annum
Option 3: 8% per annum
Option 4: 10% per annum
Question : A sum becomes INR 27,720 in 7 years at the rate of 14 % per annum on simple interest. What is the sum?
Option 1: INR 13,000
Option 2: INR 14,700
Option 3: INR 15,000
Option 4: INR 14,000
Question : The compound interest (compounding annually) on a certain sum for 2 years at the rate of 20 percent per annum is Rs. 2420. What will be the simple interest on the same sum for 3 years at the same rate of interest?
Option 1: Rs. 3300
Option 2: Rs. 3000
Option 3: Rs. 3800
Option 4: Rs. 4200
Question : A sum of Rs. 14500 will become Rs. 16675 in 36 months at some rate of simple interest. What is the rate of interest per annum?
Option 2: 5% per annum
Option 3: 4% per annum
Option 4: 7% per annum
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