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 : 21 [SSC CPO S.I.2003]
What sum will amount to Rs.7000 in 5 years at 3$1/3$% simple interest ?
a) Rs.6500
b) Rs.6300
c) Rs.5000
d) Rs.6000
Answer »Answer: (d)
Using Rule 1,
P = ${A × 100}/{100 + r × t}$
=${7000 × 100}/{100 + 10/3 × 5}$
= ${7000 × 100 × 3}/350$ = Rs.6000
Question : 22 [SSC CPO S.I.2005]
If the simple interest on a certain sum of money for 15 months at 7$1/2$% per annum exceeds the simple interest on the same sum for 8 months at 12$1/2$% per annum by Rs.32.50, then the sum of money (in ) is :
a) 312.50
b) 312
c) 3120.50
d) 3120
Answer »Answer: (d)
Using Rule 1,
Let the sum be x.
Using formula, I = $\text"PRT"/100$ we have
${x × 15/12 × 15/2}/{100 - x} - {x × 8/12 × 25/2}/100$
= 32.50
${25x}/2400$ = 32.50
$x = {32.50 × 2400}/25$ = 3120
Required sum = Rs.3120
Question : 23 [SSC CGL Prelim 2007]
A person deposited Rs.400 for 2 years, Rs.550 for 4 years and Rs.1,200 for 6 years. He received the total simple interest of Rs.1,020. The rate of interest per annum is
a) 5%
b) 10%
c) 20%
d) 15%
Answer »Answer: (b)
Using Rule 1,
Let the rate of interest be R per cent per annum.
${400 × 2 × R}/100 + {550 × 4 × R}/100$
+ ${1200 × 6 × R}/100 = 1020$
8R + 22 R +72 R = 1020
102 R= 1020
R = $1020/102$ = 10%
Question : 24 [SSC CGL Prelim 2007]
Manoj deposited Rs.29400 for 6 years at a simple interest. He got Rs.4200 as interest after 6 years. The annual rate of interest was
a) 2$7/20$%
b) 2$8/21$%
c) 4$8/21$%
d) 3$8/21$%
Answer »Answer: (b)
Using Rule 1,
4200 = ${29400 × 6 × R}/100$
R = $4200/{294 × 6} = 50/21 = 2{8}/21$%
Question : 25 [SSC CGL Prelim 2003]
What sum of money will amount to Rs.520 in 5 years and to Rs.568 in 7 years at simple interest ?
a) Rs.120
b) Rs.400
c) Rs.220
d) Rs.510
Answer »Answer: (b)
Simple interest for 2 years
= Rs.(568 - 520) = Rs.48
Interest for 5 years
= Rs.$48/2 × 5$ = Rs.120
Principal = Rs.(520 - 120) = Rs.400
Using Rule 12,
P = $({A_2T_1 - A_1T_2}/{T_1 - T_2})$
=$({568 × 5 - 520 × 7}/{5 - 7})$
= $({2840 - 3640}/{-2})$
=${- 800}/{- 2}$ = Rs.400
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type 1 basic simple interest using formula Shortcuts »
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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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