Question : If the rate of simple interest in consecutive years is 4% and 5% respectively, then what will be the total amount payable on INR 25,000 in 2 years?
Option 1: INR 26,250
Option 2: INR 28,250
Option 3: INR 26,000
Option 4: INR 27,250
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Correct Answer: INR 27,250
Solution : Given: The Rate of Simple Interest in consecutive years is 4% and 5% respectively. Principal = INR 25,000 Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ Putting the values, we have, Simple interest = $\frac{25000×4×1}{100}+\frac{25000×5×1}{100}$ = 1000 + 1250 = 2250 Total amount = 25000 + 2250 = 27250 Hence, the correct answer is INR 27,250.
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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 3: INR 28,750
Option 4: INR 28,000
Question : If the simple interest on INR 2,500 is more than the interest on INR 1,500 by INR 360 in 3 years, then find the rate of interest per annum.
Option 1: 11%
Option 2: 9%
Option 3: 10%
Option 4: 12%
Question : Simple interest on a certain sum is one-fourth of the sum and the interest rate per annum is four times the number of years. If the rate of interest increases by 2%, then how much will the simple interest (in INR) be on INR 3,600 for 6 years?
Option 1: 2,562
Option 2: 2,514
Option 3: 2,642
Option 4: 2,592
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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