Question : On a certain sum, the Simple Interest at the end of $6\frac{1}{4}$ years becomes $\frac{3}{8}$th of the sum. The Rate of interest is:
Option 1: 5%
Option 2: 6%
Option 3: 7%
Option 4: 8%
Correct Answer: 6%
Solution : Given: Time = $6\frac{1}{4}$ = $\frac{25}{4}$ years Simple Interest = $\frac{3}{8}\text{P}$ According to the question SI = $\frac{\text{P×R×T}}{100}$, where $P$ is principal, $T$ is time in years and $R$ is the rate of interest per annum. ⇒ $\frac{3}{8}\text{P}$ = $\frac{\text{P×R×25}}{100×4}$ ⇒ $\text{R}$ = 6% Hence, the correct answer is 6%.
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Question : The simple interest on a sum of money for 3 years is Rs. 240 and the compound interest on the same sum at the same rate for 2 years is Rs. 170. The rate of interest is:
Option 1: $8$%
Option 2: $29\frac{1}{6}$%
Option 3: $12\frac{1}{2}$%
Option 4: $5\frac{5}{17}$%
Question : A sum amounts to INR 7,656 in 4 years and to INR 8,120 in 5 years at a certain simple interest rate percent per annum. The rate of interest is:
Option 1: 4%
Option 2: 3%
Question : Sudeep invested $\frac{1}{8}$th of a certain sum at 5% p.a. for two years and $\frac{3}{5}$th of the sum at 6% p.a. for two years and the remaining at 10% p.a. for two years. If the total interest received is INR 1,674, then the total sum invested is:
Option 1: INR 13,000
Option 2: INR 12,000
Option 3: INR 10,500
Option 4: INR 12,500
Question : A sum of Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will the same sum become in 3 years?
Option 1: Rs. 1025
Option 2: Rs. 1042
Option 3: Rs. 1052
Option 4: Rs. 1024
Question : At a certain rate of Simple Interest, a certain sum of money becomes double itself in 10 years. It will become triple of itself in:
Option 1: 15 years
Option 2: 18 years
Option 3: 20 years
Option 4: 30 years
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