Question : If the ratio of principal and the simple interest for 5 years is 10 : 3, then the rate of interest is:
Option 1: 5%
Option 2: 6%
Option 3: 8%
Option 4: 3%
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Correct Answer: 6%
Solution : According to the question, $\frac{\text{Principal}}{\text{Simple interest}}=\frac{10}{3}$ Let, Principal = Rs. 10 Simple Interest (SI) for 5 years = Rs. 3 So, SI for 1 year = $\frac{3}{5} =0.6$ $\therefore$ Rate = $\frac{\text{Simple interest}\times 100}{\text{Principal × Time}}=\frac{0.6\times 100}{10 \times 1}=6$% Hence, the correct answer is 6%.
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Question : A financial institution claims that it returns three times the principal in 25 years on a certain rate of simple interest per annum. What is the rate of simple interest?
Option 1: 8%
Option 3: 4%
Option 4: 5%
Question : If INR 2,000 is invested at a simple interest rate of 5% per annum and the interest is added to the principal after 10 years, then in how many years will it amount to INR 4,000 at the same rate of interest?
Option 1: $18 \frac{2}{3}$ years
Option 2: $16 \frac{1}{3}$ years
Option 3: $16 \frac{2}{3}$ years
Option 4: $18 \frac{1}{3}$ years
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 2: 7%
Option 3: 6%
Question : In $t$ years, the simple interest earned on a certain amount at the rate of 10% per annum is $\frac{5}{8}$th of the principal amount. If the rate of interest is made three-fourths of 10% and the simple interest remains the same, which of the following statements is true about the changed value of time?
Option 1: It remains the same as $t$.
Option 2: It becomes three-fourths of the time $t$.
Option 3: It increases to $8 \frac{1}{3}$ years.
Option 4: It decreases to $5 \frac{1}{2}$ years.
Question : If a sum of money becomes INR 6,000 in 3 years and INR 10,500 in 7 years and 6 months at the same rate of simple interest, then what is the rate of interest?
Option 1: $33 \frac{1}{3}$%
Option 2: $25 \frac{1}{2}$%
Option 3: $45 \frac{2}{3}$%
Option 4: $66 \frac{1}{3}$%
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