Question : Rs. 800 amounts to Rs. 920 in 3 years at simple interest. If the interest rate is increased by 3% it would amount to:
Option 1: Rs. 1056
Option 2: Rs. 1112
Option 3: Rs. 1182
Option 4: Rs. 992
Correct Answer: Rs. 992
Solution : Given: Principal = Rs. 800 Simple Interest = Rs. 120 Time period = 3 years Rate of interest be $R$ = 3% for extra interest Use the formula below. Simple Interest = $\frac{\text{Principle×Rate×Time}}{100}$ = $\frac{800×3×3}{100}$ = Rs. 72 So, the total amount received = 720 + 72 = Rs. 992 Hence, the correct answer is Rs. 992.
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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 : A certain amount of money earns Rs. 540 as a simple interest in 3 years. If it earns a compound interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rs.):
Option 1: Rs. 1600
Option 2: Rs. 1800
Option 3: Rs. 2000
Option 4: Rs. 2100
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%
Option 3: 7%
Option 4: 8%
Question : John invested a sum of money at an annual simple interest rate of 10%. At the end of four years, the amount invested plus interest earned is Rs. 770. The amount invested was:
Option 1: Rs. 650
Option 2: Rs. 350
Option 3: Rs. 550
Option 4: Rs. 500
Question : A person invested Rs. 12,000 on simple interest for 7 years to obtain a total amount of Rs. 20,400 on a certain annual rate of interest. What was the rate of interest to obtain the above amount?
Option 1: 7%
Option 2: 9%
Option 3: 8%
Option 4: 10%
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