Simple Interest Test

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Simple Interest Test - 3

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Weekly Quiz Competition

Question 1
1 / -0

Rohini deposited Rs 4000 in a bank which pays 3% simple interest. She withdrew Rs 1400 at the end of first year. What will be her balance after 3 years?

A
2535.80

B
6346.87

C
2883.20

D
2536.97

Solution

Given Principal amount P = Rs 4000

Time period T = 1 year

Rate of interest R = 3% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (4000 × 1 × 3)/100

= Rs 120

So amount after 1 year = Principal amount + Interest = 4000 + 120 = Rs 4120

after 1 year, the amount is withdrawn = Rs 1400

Principal amount left = Rs 4120 − Rs 1400 = Rs 2720

Time period = 2 years

Rate of interest = 3% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (2720 × 2 × 3)/100

Interest after two years = Rs 163.20

Total amount after 3 years = Rs 2720 + Rs 163.20 = Rs 2883.20
Question 2
1 / -0

A sum of Rs 800 is lent at the rate of 5% per annum. Find the interest at the end of 1 years.

A
20

B
40

C
60

D
80

Solution

Given Principal amount P = Rs 800

Time period T = 1 years

Rate of interest R = 5% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (800 × 1 × 5)/100

= Rs 40
Question 3
1 / -0

A man borrowed Rs 4000 from a bank at 8% per annum. Find the amount he has to pay after 9 years.

A
6780

B
6380

C
5680

D
6880

Solution

Given Principal amount P = Rs 4000

Time period T = 9 years

Rate of interest R = 8% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (4000 × (9) × 8)/100

= Rs 2880

Amount = Principal amount + Interest

= Rs 4000 + 2880

= Rs 6880
Question 4
1 / -0

Nitu deposits Rs 500 in a savings bank account. The bank pays interest at the rate of 10% per annum. What amount can Anita get after one year?

A
5000

B
550

C
525

D
450

Solution

Given Principal amount P = Rs 500

Time period T = 1 year

Rate of interest R = 10% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (500 × 1 × 10)/100

= Rs 50

Total amount paid after 1 year = Principal amount + Interest

= Rs 500 + Rs 50

= Rs 550
Question 5
1 / -0

A sum of Rs 200 is lent for 6 years at the rate of 6% per annum. Find the interest.

A
48

B
54

C
60

D
72

Solution

Principal amount P = Rs 200

Time period T = 6 years

Rate of interest R = 6% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (200 × 6 × 6)/100

= Rs 72
Question 6
1 / -0

Rajat deposited Rs 10000 as a fixed deposit in a bank at 20% per annual. If 30% is deducted as income tax on the interest earned, find his annual income.

A
1400

B
1400

C
1300

D
1200

Solution

Given Principal amount P = Rs 10000

Time period T = 1 year

Rate of interest R = 20% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (10000 × 1 × 20)/100

= Rs 2000

Amount deducted as income tax = 30% of 2000 = (30 × 2000)/100

= Rs 600

Annual interest after tax deduction = Rs 2,000 − Rs 600 = Rs 1,400
Question 7
1 / -0

The rate of simple interest per annum at which a sum of money doubles itself in 100/3 years is:

A
3

B
4

C
5

D
4.33

Solution

Let the principal amount be P.

Now the amount A after 100/3 years is doubled, hence amount is 2P.

I = P × R × T/100

Where,

P = principal amount

R = rate of interest

T = time in years = 100/3

I = simple interest

Amount A = I + P

According to question

A = P + P × R × T/100

2P = P + P × R × T/100

P = P × R × T/100

R = 100/T

R = 100 × 3/100

R = 3%
Question 8
1 / -0

Principal = ₹ 5000, S.I. = ? and rate = 6% p.a., time = 4

A
1000

B
1000

C
1000

D
1425

Solution

Given: – P = ₹ 5000, R = 6%, T =4

We Know That,

SI = P.R.T/100

= 5000 . 6. 4/100

= 1200
Question 9
1 / -0

Lucknow has a population of 60,000. The population decreases by 10 per thousand per year. What will be the population after 2 years?

A
57805

B
56980

C
56980

D
59870

Solution

R = [10 × 100] / 1000 = 1%

(Because percentage is calculated for twenty per thousand)

Population after 2 years will be = P(1−R/100)T

= 60000(1−1/100)²

= 60000(99/100)²

= 58,806
Question 10
1 / -0

A sum amounts to ₹ 3605 in 219 days at 5% per annum. The sum is

A
₹ 3250

B
₹ 3500

C
₹ 3400

D
₹ 3550

Solution

Let the required sum be ₹ x

Then,

SI = (P × R × T)/ 100

Amount = P + SI

= x + [(x × R × T)/ 100]

= x [1 + _{R × T)/ 100)]}

x = Amount/ [1 + ((R × T)/ 100)]

= 3605/ [1 + ((5/100) × (219/365]

= (3605 × 36500)/ 37595

x = ₹ 3500

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Re-Attempt Weekly Quiz Competition

Simple Interest Test - 3

Result

Simple Interest Test - 3

Score

-

Rank

-

SHARING IS CARING

Question 1

2535.80

6346.87

2883.20

2536.97

Solution

Question 2

20

40

60

80

Solution

Question 3

6780

6380

5680

6880

Solution

Question 4

5000

550

525

450

Solution

Question 5

48

54

60

72

Solution

Question 6

1400

1400

1300

1200

Solution

Question 7

3

4

5

4.33

Solution

Question 8

1000

1000

1000

1425

Solution

Question 9

57805

56980

56980

59870

Solution

Question 10

₹ 3250

₹ 3500

₹ 3400

₹ 3550

Solution

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