Simple Interest Questions

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  1. A sum of ₹400 amounts to ₹480 in 4 years. If the rate of interest is increased by 2% what will it amount to?
  1. ₹ 560
  2. None of These
  3. ₹ 484
  4. ₹ 512

View Answer

Answer is c

 

2. A man loses ₹55.50 yearly when the annual rate of interest falls from 11.5% to 10%. His capital (in rupees) is

  1. 7400
  2. 11100
  3. 3700
  4. 8325

View Answer

Answer is c

 

3. If the annual rate of simple interest increases from 10% to 12%, a man’s yearly income increases by ₹1250. His principle (in rupees) is

  1. 45000
  2. 65000
  3. 50000
  4. 60000

View Answer

Answer is c

 

4. The effective annual rate of interest corresponding to a nominal rate of 13% per annum payable half-yearly is

  1. 26.85 percent
  2. 13.42 percent
  3. 26 percent
  4. 13 percent

View Answer

Answer is b

 

5. Rohan borrowed a certain sum of money at simple interest. When the rate of interest was 3% per annum for first three years, 4% per annum for next five years and 6% per annum for next seven years and If he paid Rs.2059 as interest, then what is the sum borrowed (in Rs.)?

  1. 2500
  2. 3100
  3. 2400
  4. 2900

View Answer

Answer is d

 
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