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

Question : 11 [SSC CGL Prelim 2004]

If the annual rate of simple interest increases from 10% to 12$1/2$% , a man's yearly income increases by Rs.1250. His principal (in rupees) is

a) 45,000

b) 50,000

c) 65,000

d) 60,000

Question : 12 [SSC CHSL 2014]

A sum of Rs. 800 amounts to Rs.920 in 3 years at the simple interest rate. If the rate is increased by 3% p.a., what will be the sum amount to in the same period ?

a) Rs.962

b) Rs.992

c) Rs.982

d) Rs.942

Question : 13 [SSC CPO S.I.2009]

A sum was invested on simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched Rs.72 more. The sum is

a) Rs.1,500

b) Rs.1,200

c) Rs.1,800

d) Rs.1,600

Question : 14 [SSC CHSL 2012]

A person who pays income tax at the rate of 4 paise per rupee, find that a fall of interest rate from 4% to 3.75% diminishes his net yearly income by Rs.48. What is his capital ?

a) Rs.25,000

b) Rs.24,000

c) Rs.18,000

d) Rs.20,000