Question : In how many years will the simple interest on a sum of Rs. 6000 lent at 5% per annum be equal to the simple interest on a sum of Rs. 2000 lent for 30 years at 4% per annum?
Option 1: 6 years
Option 2: 12 years
Option 3: 20 years
Option 4: 8 years
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Correct Answer: 8 years
Solution : Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ We are given that the simple interest on Rs. 6000 at 5% per annum is equal to the simple interest on Rs. 2000 at 4% per annum for 30 years. So, we can set up the equation, $⇒6000 \times \frac{5}{100} \times T = 2000 \times \frac{4}{100} \times 30$ $⇒60 \times5T = 20 \times 4 \times 30$ $⇒T = 8 \, \text{years}$ Hence, the correct answer is 8 years.
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Question : A person lends a certain sum of money at the rate of 6% per annum on simple interest and the interest received in 13 years is Rs. 220 less than the sum lent. What is the sum lent?
Option 1: Rs. 1000
Option 2: Rs. 600
Option 3: Rs. 800
Option 4: Rs. 1200
Question : The difference in simple interest on a certain sum at 6% per annum for 5 years and 5% per annum for 4 years is Rs. 422. Find the sum
Option 1: Rs. 2570
Option 2: Rs. 4220
Option 3: Rs. 6500
Option 4: Rs. 1990
Question : A sum of Rs. 11,500 amounts to Rs. 12,880 in 2 years at the rate of simple interest. What is the rate of interest?
Option 1: 6% per annum
Option 2: 4% per annum
Option 3: 8% per annum
Option 4: 10% per annum
Question : A person lent a certain sum of money at the annual rate of 20 percent on simple interest. In 10 years, the interest amounted to Rs. 800 more than the sum lent. What is the sum lent?
Option 1: Rs. 800
Option 2: Rs. 500
Option 3: Rs. 1200
Option 4: Rs. 400
Question : The simple interest received on a sum at the rate of 8 percent per annum is $\frac{2}{5}$ of the sum. What is the period?
Option 2: 5 years
Option 3: 4 years
Option 4: 7.5 years
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