Simple Intrest (238-252)
Simple Intrest (238-252)
SIMPLE INTEREST
WORK SHEET - 1
SINGLE ANSWER TYPE
1
1. If a sum of Rs.4800 is deposited in a bank for 4 years paying S.I. of 6 % PA,
4
then simple interest is
1) 1300/- 2) 1800/- 3) 1200/- 4) 1600/-
2. Simple interest on a sum of Rs 73000 at the rate of 24% per annum from 12-02-
1991 to 30 - 09 - 91 is
1) 11040/- 2) 11030/- 3) 11020/- 4) 11060/-
3. A person borrowed an amount of Rs.15000 from a bank at the rate of 20% per
annum. He lends Rs. 10000 to a friend at 25% PA and Rs.5000 to another
friend at 30% PA. If he repays the amount to the bank after 3 years the
amount of profit he gets is
1) 3200/- 2) 3500/- 3) 3000/- 4) 3600/-
4. A person deposited 20000/- in a finance company in term deposit. Which
gives an interest of 10% PA, interest is calculated every 6 months and added
to the principal. If interest on next 6 months is calculated on the total
amount. The amount received by him after one year is
1) 22050/- 2) 22060/- 3) 22075/- 4) 22040/-
5. Simple interest is calculated at the rate 4 paise per rupee per month. If a
sum of 8000/- is deposited for 3 years, then the simple interest is
1) 950/- 2) 940/- 3) 960/- 4) 980/-
6. Ramesh borrowed a certain sum at 10% PA in 2 years. If he repaid 6000/- at
the end of 2 years then the sum is
1) 5500/- 2) 5200/- 3) 5600/- 4) 5000/-
7. In what time will 8000/- amount to 11840/- at 8% of PA is
1) 6 years 2) 8 years 3) 4 years 4) 9 years
8. If S.I. on 3650/- in 3 years is 1314/- then the rate of interest is
1) 10% 2) 14% 3) 12% 4) 16%
9. If a certain sum becomes 4 times it self in 16 years, then the rate of interest
is
1 1 3 2
1) 18 % PA 2) 18 % PA 3) 18 % PA 4) 18 % PA
4 2 4 3
10. If A certain sum becomes 5 times itself at 25% of PA, then the time is
1) 10 years 2) 18 years 3) 16 years 4) 12 years
WORK SHEET - 2
SINGLE ANSWER TYPE
1. Interest that is calculated uniformly on the original principal through out
the loan period is :
1
17. What is the difference between the compound interests on Rs.5000 for 1
2
years at 4% per annum compounded yearly and half-yearly?
1) Rs.2.04 2) Rs.3.06 3) Rs.4.80 4) Rs.8.30
18. Find the compound interest on Rs.15,625 for 9 months at 16% per annum
compounded quarterly.
1) Rs.1851 2) Rs. 1941 3) Rs. 1951 4) Rs. 1961
19. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347 The
period (in years) is:
1
1) 2 2) 2 3) 3 4) 4
2
20. The CI on Rs. 5000 for 3 years at 8% for first year, 10% for second year and
12% for third year will be:
1) Rs.1750 2) Rs.1652.80 3) Rs.1575 4) Rs.1685.20
21. The difference between CI and SI on a sum of money lent for 2 years at 10%
is Rs.40. The sum is:
1) 1600 2) 2000 3) 4000 4) 3500
22. The difference between simple and compound interest on Rs. 6000 for 1
year at 20% per annum reckoned half yearly is:
1) 120 2) 60 3) 180 4) 72
MULTI ANSWER TYPE
23. C.I and S.I for a certain sum at certain rate of interest are 220 Rs and
200 Rs. at the end of the second year which of the following is true
1) Rs. P = 500 2) Rs. P = 1000 3) R = 20% p.a 4) R=10% p.a.
24. A sum of Rs 1600 gives a simple interest of Rs 252 in 2years and 4
months rate of interest ?
1 27 3 27
1) 6 % pa. 2) % p.q. 3) 6 % p.a. 4) % p.h.
2 16 4 88
25. If the simple interest on a sum of money for 2years at 5% per annum is
Rs. 50. What is the compound interest on the same sum at the same rate
and for the same time.
5125 512.5 6406.25
1) Rs. 57.25 2) Rs. 3) Rs. 4) Rs.
100 10 125
REASONING ANSWER TYPE
1
26. Statement I: The S.I. on Rs. 1820 from march 9,2003 to may 21,2003 at 7 %
2
rate p.a. will be Rs. 27.30.
Statement II: The S.I. on Rs. 10 for 4 months at the rate of 3 paise per one
rupee per month is Rs 1.60.
1) Both Statement-I and Statement-II are true.
2) Both Statement-I and Statement-II are false.
3) Statement I is true, Statement II is false.
4) Statement I is false, Statement II is true.
27. Statement I: Compound interest on Rs 16,000 at 20% per annum for 9
months, compounded Quarterly is Rs. 2524.
Statement II: A sum of money to Rs 6690 after 3years and to Rs 10, 035
after 6years on C.I. then the sum is Rs. 4460.
1) Both Statement-I and Statement-II are true.
2) Both Statement-I and Statement-II are false.
3) Statement I is true, Statement II is false.
4) Statement I is false, Statement II is true.
28. Statement I: Annual instalment will discharge a debt of Rs 1092 due in 3year
at 12% S.I on buying a radio then the actual cost for which the customer
has bought is Rs. 975.
Statement II: A certain sum of money amounts to Rs. 1008 in 2years and to
1
Rs. 1164 in 3 years then rate of interest is 13% on S.I.
2
1) Both Statement-I and Statement-II are true.
2) Both Statement-I and Statement-II are false.
3) Statement I is true, Statement II is false.
4) Statement I is false, Statement II is true.
29. Statement I: The rate of C.I per annum will a sum of Rs 1200 become
Rs. 1348.32 in 2years is 6%.
Statement II: A sum of money invested at compound interest amounts to
Rs. 800 in 3years and to Rs 840 in 4years. The rate of interest per annum
is 5%.
1) Both Statement-I and Statement-II are true.
2) Both Statement-I and Statement-II are false.
3) Statement I is true, Statement II is false.
4) Statement I is false, Statement II is true.
COMPREHENSION TYPE
Writeup:1
1
If Rs 6,400 is invested at a compound interest rate of 6 % per annum then
4
find
30. The amount after one year is
1) Rs. 6,600 2) Rs. 6,800 3) Rs. 7,600 4) Rs. 7,800
31. The amount after two years is
1) Rs. 7,225 2) Rs. 7,325 3) Rs. 7,250 4) Rs. 7,350
32. The interest earned in 2nd year is
1) Rs. 820 2) Rs. 825 3) Rs. 425 4) Rs. 400
Writeup:2
A man invests Rs 5,000 for three years at a certain rate of interest,
compound annual. At the end of first year it amounts to Rs 5,600 calculate.
33. The rate of the interest per annum ?
1) 11% 2) 12% 3) 13% 4) 14%
34. The interest occurred in the 2nd year ?
1) Rs. 672 2) Rs 682 3) Rs. 772 4) Rs. 782
35. The amount at the end of the 3rd year ?
42. The S.I. on 60,000 Rs. at 2 Rs. per Rs. 100 per month for 14 months is
_______
6) 4 7) 1 8) 3 9) 3 10) 3
PTR 1 4 25 4
1. S.I = 4800 6 = 4800 = 1200/-
100 4 100 4 100
2. Time = T = 16 days in Feb + 31 days in March + 30 days in April + 31 days in
May + 30 in June + 31 in July + 31 in August + 30 in September = 230 days
230
R = 24%, P = 73000/-, T = years
365
PTR 73000 24 230
S.I. = = 240 × 46 = 11040/-
100 100 365
15000 3 20
3. Interest to be paid to the bank after 3 years = = 9000/-
100
Amount to be paid to the bank after 3 years = 15000 + 9000 = 24000/-
10000 3 25
Amount received from first friend = 10000 = 17500/-
100
5000 3 30
Amount received from 2nd friend = 5000 = 9500/-
100
Amount received from both the friends = 17500 + 9500 = 27000
Amount to be paid to the bank = 24000
gain = 27000 – 24000 = 3000/-
20000 6
4. Interest for 6 months = 10 = 1000/-
100 12
Amount at the end of 6 months = 20000 + 1000 = 21000/-
21000 6
Interest for next 6 months = 10 = 1050/-
100 12
Amount at the end of one year = 1050 + 21000 = 22050/-
8000 4 3
5. S.I. = 960/
100
6. Let principal be P.
PTR
P 6000
100
P 10 2
P 6000
100
P
P 6000
5
6P
6000
5
5
P 6000 = 5000/-
6
7. Amount = 11840/- and Principal = 8000/-
Simple Interest = 11840 – 8000 = 3840/-
Rate = 8%, T = ?
100 S.I 3840 100
T = = 6 years.
PR 8000 8
100 S.I 1314 100
8. R = = 12%
PT 3650 3
9. Let principal be 100/- and Amount will be 400/-
Simple Interest = 400 – 100 = 300/-
T = 16 years, Rate = ?
100 S.I 100 300 75 3
R = 18 %
PT 100 16 4 4
10. Let principal be 100/- and Amount will be 500/-
S.I. = 500 – 100 = 400/-
Rate = 25%, Time = ?
100 S.I 100 400
T= = = 16 years.
PR 100 25
6) 1 7) 2 8) 2 9) 2 10) 3
1 1
New rate = 6 4 % 10 %
2 2
1 3
New S.I = Rs. 800 = Rs. 252.
2 100
New amount = Rs. (800 + 252) = Rs. 1052
11. Let the principal be P and rate of interest be R%
P R 6
100
6PR 6
Required ratio = P R 9 = =2:3
100 9PR 9
5
2
21 21
Amount Rs 500 1 Rs 500 = 551.25
100 20 20
C.I = Rs (551.25 - 500) = Rs 51.25
26. Key : 3
1
Sol: Time = (22 + 30 + 21) days = 73 days = year
5
15 1 1
S.I = Rs 1820x x x Rs 27.30
2 5 100
3
S.I= Rs 10x x4 Rs1.20
100
27. Key : 4
Sol: Statement-I: principal Rs = 16000, Time = 9months = 3quaters
Rate = 20% per annum = 5% per quarter
21 21 21
Amount = Rs 16000 1 5/100 Rs 16000 20 20 20 = Rs.
3
18522
C.I = Rs (18522 - 16000) = Rs 2522
Statement-II: Let the sum be Rs P then
3
R
6690 i andP 1 R /100 10035 ii
6
P 1
100
10035
on dividing we get 1 R /100
3
3/2
6690
Sustituting this value in (i) we get
P 3/2 6690 or P 6690 2/3 4460
28. Key : 1
Statement-I: Let 3x be the cost for which he has bought.
x 12 1 x 12 2
x x x 1092
100 100
28x 31x
x 1092 28x 31x 25 x = (1092 x 25)
25 25
1092 25
x Rs. 325
84
1
Statement-II: S.I for 1 years = Rs (1164 - 1008) = Rs 156
2
S.I for 2years = Rs (156 x 2/3 x 2) = Rs 208
Principal = Rs (1008 - 208) = Rs 800
Now P = 800 T = 2 and S.I = 208
100 208
Rate = % 13%
800 2
29. Key : 1
Sol: Statement-I: Let the rate be R% P.a then
2 2
R R 134832 11236
1200 1 1348.32 1
100 100 120000 10000
2 2
R 106 R 106
1 or 1 or R 6%
100 100 100 100
Statement-II: S.I on Rs 800 for 1year = Rs (840 – 800) = Rs. 40
100 40
Rate = % 5%
800 1
30. Key : 2
1
Sol: Here P = Rs. 640; r=6 %, n = 2
4
n
25
r 17
Now A P 1 A 6400 1 4 6400 = Rs. 6,800
100 100 16
31. Key : 1
2
25
1 7
2
Sol: A 6 4 0 0 1 4 6400
1 6
2
100
289
A 6400 25 289 7225Rs
256
32. Key : 3
Sol: The interest eaned = A - P = Rs 7225 - Rs 6400 = Rs. 825
33. Key : 2
Here P = Rs 5000 A = Rs 5600, T = 1year, R = ?
PRT 5000 R 1
I I Rs A P Rs 50R
100 100
600
(or) Rs 5600 - Rs 5000 = Rs 50R R 12
50
The rate of interest per annum is 12%
34. Key : 1
For the 2nd year P = Rs 5600, T = 1year R = 12
PRT 5600 12 1
I T Rs 56 12 672Rs
100 100
35. Key : 3
Sol: For the 3rd year P = amount at the end of the 2nd year
= Rs 5600 Rs 672 6272Rs
Now T = 1 R = 12 so the amount at the end of the 3rd year
PRT 6272 12 1
= P I 6272 6272
100 100
= Rs 7,024.64
36. Key : 2
1
Sol: P = Rs 30,000 R = 7 %; T=1
2
15
30000 1
Interest I PRT 2
2250Rs
100 100
amount of the end of the first year = P + I
30,000 + 2250 = 32,250 Rs
32,250 15/2 3225 15
2nd year 2418.75
100 20
amout of end od the 2nd year = P + I
= 32,250 + 2418.75 = 34,668.75 Rs.
37. Key : 1
1
Sol: 3rd year P = 34668.75 ; R=7 %; T=1
2
15
34668.75
I
PRT
2 6933.75 3 = Rs. 2600.15
100 100 8
The required amount is = P + I = Rs. 34,668.75 + 2600.15 = Rs.
37268.90
38. Key : 1
Sol: Compound interest = A - P = Rs. 37268.90 – 30000 = Rs. 7,268.90
39. Key: a 3; b 4; c 1; d 2
4
a) The interest for the 1st year = 4% of Rs 46875 46875
100
187500
Rs Rs 1,875
100
2) The new pricipal for the second year = Rs 46875 + Rs 1875
Rs 48750
The interest for the second year = 4% of Rs 48750
4 195000
of Rs 48750 Rs Rs1950
100 100
The amount standing to his credit at the end of the
2nd year = Rs 48750 + Rs 1950 = Rs 50,700
3) The new prcipal for the 3rd year = Rs 50700
The interest for the 3rd year = 4% of Rs 50700
4 202800
RS 50700 Rs Rs 2,028
100 100
4) The amount that the man will receive after 3years