Question : A sum of INR 12,000 amounts to INR 15,000 in 5 years at the rate of simple interest. What is the rate of interest per annum?
Option 1: 8%
Option 2: 7%
Option 3: 6%
Option 4: 5%
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Correct Answer: 5%
Solution : Given: Principal = INR 12,000, Total amount = INR 15,000 Time = 5 years So, simple interest = 15000 – 12000 = 3000 We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ ⇒ $3000=\frac{12000\times \text{Rate} \times 5}{100}$ ⇒ Rate $=\frac{3000×100}{12000\times 5}$ ⇒ Rate $=5\%$ Hence, the correct answer is 5%.
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Question : The simple interest on a certain sum for 3 years at 8% per annum is INR 9120 less than the simple interest on the same sum for 7 years at 8% per annum. Find the sum.
Option 1: INR 28,500
Option 2: INR 28,250
Option 3: INR 28,750
Option 4: INR 28,000
Question : The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is Rs. 840. The rate of interest for which the same amount of interest can be received on the same sum after 5 years is:
Option 1: 7% per annum
Option 2: 8% per annum
Option 3: 9% per annum
Option 4: 10% per annum
Question : The simple interest on a sum of money in 6 years at the rate of 15% per annum is INR 1,440 less than the simple interest accrued on the same sum in 9 years at 18% per annum. What is the sum of money (in INR)?
Option 1: 1800
Option 2: 2000
Option 3: 2700
Option 4: 2400
Question : The difference between the simple and compound interest on a certain sum of money at an $8\%$ rate of interest per annum for two years is INR 56. Find the sum.
Option 1: INR 8750
Option 2: INR 7058
Option 3: INR 7805
Option 4: INR 8057
Question : The simple interest on a sum of INR 7,400 for 36 months is INR 888. What is the rate percentage of interest per annum?
Option 1: 3%
Option 2: 8%
Option 3: 5%
Option 4: 4%
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