Question : In how many years will a sum of Rs. 3000 yield an interest of Rs.1080 at 12% per annum simple interest?
Option 1: $4$ years
Option 2: $3$ years
Option 3: $5$ years
Option 4: $2\frac{1}{2}$ years
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Correct Answer: $3$ years
Solution : Given: Principal = Rs. 3000 Simple interest = Rs.1080 Rate = 12% Simple interest =$\frac{\text{Principal×Rate×Time}}{100}$ ⇒ $1080 = \frac{3000 × 12 × \text{Time}}{100}$ ⇒ Time = $\frac{1080 × 100}{3000 × 12}$ ⇒ Time = $3$ years Hence, the correct answer is $3$ years.
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Question : When will INR 3,720 amount to INR 5,282.4 at 12% simple interest per annum?
Option 1: $3$ years
Option 2: $3 \frac{1}{2}$ years
Option 3: $5 \frac{1}{2}$ years
Option 4: $5$ years
Question : A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is:
Option 1: $2\frac{1}{2}$%
Option 2: $4$%
Option 3: $5$%
Option 4: $6\frac{2}{3}$%
Question : If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years and 6 months, at the same rate of simple interest per annum, the rate of simple interest is:
Option 1: $21\frac{3}{7}$%
Option 2: $21\frac{2}{7}$%
Option 3: $21\frac{1}{7}$%
Option 4: $21\frac{5}{7}$%
Question : The sum of money that will yield Rs. 60 as simple interest at a rate of 6% per annum in 5 years is:
Option 1: Rs. 200
Option 2: Rs. 225
Option 3: Rs. 175
Option 4: Rs. 300
Question : For what sum will the simple interest at $R$% per annum for 2 years be $R$?
Option 1: Rs. $\frac{100}{2R}$
Option 2: Rs. $50$
Option 3: Rs. $\frac{100}{R}$
Option 4: Rs.$\frac{200}{R}$
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