type 1 basic simple interest using formula Practice Questions Answers Test with Solutions & More Shortcuts
simple interest PRACTICE TEST [6  EXERCISES]
type 1 basic simple interest using formula
type 2 increase or decrease in interest rate
type 3 money multiples in ‘n’ years
type 4 difference & equality of si rate & years
type 5 si on ‘n’ years & ‘x/y ‘of sum
type 6 si with ratios
Question : 1 [SSC SAS 2010]
A lent Rs.5000 to B for 2 years and Rs.3000 to C for 4 years on simple interest at the same rate of interest and received Rs.2200 in all from both as interest. The rate of interest per annum is
a) 5%
b) 7%
c) 10%
d) 7$1/8$%
Answer »Answer: (c)
Using Rule 1,
Let the rate of interest per annum be r%
According to the question,
${5000 × 2 × r}/100 + {3000 × 4 × r}/100 = 2200$
100r + 120r = 2200
220 r = 2200
r = $2200/220$ = 10%
Question : 2 [SSC CGL Prelim 2003]
Rs.500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest. If the sum of the interest on both the sum after 4 years is Rs.480, the latter sum of money is :
a) Rs.750
b) Rs.450
c) Rs.550
d) Rs.600
Answer »Answer: (d)
Using Rule 1,
Simple interest gained from Rs.500
= ${500 × 12 × 4}/100$ = Rs.240
Let the other Principal be x.
S.I. gained = Rs.(480  240) = Rs.240
${x × 10 × 4}/100$ = 240
$x = {240 × 100}/40$ = Rs.600
Question : 3 [SSC CGL Prelim 2003]
A certain sum of money amounts to Rs.756 in 2 years and to Rs.873 in 3$1/2$ years at a certain rate of simple interest. The rate of interest per annum is
a) 11%
b) 10%
c) 13%
d) 12%
Answer »Answer: (c)
S.I. for 1$1/2$ years
= Rs.(873  756) = Rs.117
S.I. for 2 years
= Rs.$(117 × 2/3 × 2)$ = Rs.156
Principal = 756  156 = Rs.600
Now, P = 600, T = 2, S.I. = 156
R = ${100 × S.I.}/{P × T}$
= ${100 × 156}/{600 × 2}$ = 13%
Using Rule 12,
Rate of interest
= $({A_1  A_2}/{A_2T_1  A_1T_2})$ × 100
= $({756  873}/{873 × 2  756 × 7/2}) × 100$
= $({ 117}/{1746  2646}) × 100$
= $({ 117}/{ 900})$ × 100 = 13%
Question : 4 [SSC CGL Prelim 2005]
A man had Rs.16,000, part of which he lent at 4% and the rest at 5% per annum simple interest. If the total interest received was Rs.700 in one year, the money lent at 4% per annum was
a) Rs.8,000
b) Rs.12,000
c) Rs.6,000
d) Rs.10,000
Answer »Answer: (d)
Using Rule 1,
Let the sum lent at 4% = Rs.x
Amount at 5%= (16000  x )
According to the question,
${x × 4 × 1}/100 + {(16000  X) × 5 × 1}/100$ = 700
4x + 80000  5x = 70000
x = 80000  70000 = Rs.10000
Question : 5 [SSC CGL Prelim 2000]
A sum of Rs.1600 gives a simple interest of Rs.252 in 2 years and 3 months. The rate of interest per annum is:
a) 8%
b) 5$1/2$%
c) 6%
d) 7%
Answer »Answer: (d)
Using Rule 1,
Principal (P) = Rs.1600
T = 2 years 3 months
= $(2 + 3/12) yrs. = (2 + 1/4) yrs. = 9/4 yrs.$
S.I = Rs.252
R = % rate of interest per annum
R = ${100 × S.I.}/{P × t}$
= ${100 × 252}/{1600 × 9/4}$
Rate of interest = 7% per annum.
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type 1 basic simple interest using formula
Defination & Shortcuts … 
type 2 increase or decrease in interest rate
Defination & Shortcuts … 
type 3 money multiples in ‘n’ years
Defination & Shortcuts … 
type 4 difference & equality of si rate & years
Defination & Shortcuts … 
type 5 si on ‘n’ years & ‘x/y ‘of sum
Defination & Shortcuts … 
type 6 si with ratios
Defination & Shortcuts …
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