type 1 basic simple interest using formula Practice Questions Answers Test with Solutions & More Shortcuts

Question : 6 [SSC CGL Prelim 2004]

A man took a loan from a bank at the rate of 12% per annum at simple interest. After 3 years he had to pay Rs.5,400 as interest only for the period. The principal amount borrowed by him was :

a) Rs.10,000

b) Rs.2,000

c) Rs.15,000

d) Rs.20,000

Question : 7 [SSC CGL Prelim 2005]

In what time will Rs.72 become Rs.81 at 6$1/4$% per annum simple interest ?

a) 3 years

b) 2 years

c) None of these

d) 2 years 6 months

Question : 8 [SSC CPO S.I.2004]

The sum of money, that will give Rs.1 as interest per day at the rate of 5% per annum simple interest is

a) Rs.36500

b) Rs.3650

c) Rs.7300

d) Rs.730

Question : 9 [SSC CGL Tier-1 2011]

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 800 become in 3 years ?

a) Rs.1025

b) Rs.1020.80

c) Rs.1050

d) Rs.1052

Question : 10 [SSC CGL Prelim 2003]

A money lender finds that due to fall in the annual rate of interest 8% to 7$3/4$% , his yearly income diminishes by Rs.61.50. His capital is

a) Rs.23800

b) Rs.22400

c) Rs.26000

d) Rs.24600