type 2 increase or decrease in interest rate Practice Questions Answers Test with Solutions & More Shortcuts

Question : 1 [SSC MTS 2013]

A sum was lent at simple interest at a certain rate for 2 years. Had it been lent at 3% higher rate, it would have fetched Rs.300 more. The original sum of money was :

a) Rs.6000

b) Rs.5000

c) Rs.4000

d) Rs.7000

Question : 2 [SSC CHSL 2010]

A sum of money was invested at a certain rate of simple interest for 2 years . Had it been invested at 1% higher rate, it would have fetched Rs.24 more interest. The sum of money is :

a) Rs.1050

b) Rs.1200

c) Rs.9600

d) Rs.1000

Question : 3 [SSC Constable (GD) 2015]

A sum of 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 the same sum become in 3 years ?

a) RS. 1042

b) Rs. 1025

c) Rs. 1024

d) Rs. 1052

Question : 4

A sum of Rs.400 amounts to Rs.480 in 4 years. What will it amount to if the rate of interest is increased by 2%?

a) Rs.560

b) Rs.484

c) None of these

d) Rs.512

Question : 5 [SSC CHSL 2015]

The rate of simple interest per annum of bank being decreased from 5% to 3$1/2$%, the annual income of a person from interest was less by Rs. 105. The sum deposited at the bank was

a) Rs.7,200

b) Rs.6,000

c) Rs.7,000

d) Rs.6,800