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%
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Correct Answer: 12%
Solution : Let $R$ be the rate of interest. Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ Simple interest on INR 2,500 after 3 years = $\frac{2500×3×R}{100}$ Simple interest on INR 1,500 after 3 years = $\frac{1500×3×R}{100}$ According to the question, $\frac{1500×3×R}{100}$ + 360 = $\frac{2500×3×R}{100}$ ⇒ 30$R$ = 360 ⇒ $R$ = 12% Hence, the correct answer is 12%.
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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 : 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
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