Question : The simple interest (in INR, rounded off to the tens place) on INR 12,300 from 22 May 1993 to 2 August 1993 (both days are included) at the rate of 12% per annum is:
Option 1: 300
Option 2: 200
Option 3: 250
Option 4: 350
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Correct Answer: 300
Solution : Here, P = INR 12,300 R = 12% T = from 22 May 1993 to 2 August 1993 (both days are included) May = (31 – 22 + 1) days = 10 days June = 30 days July = 31 days August = 2 days Total time = 10 + 30 + 31 + 2 = 73 days In years, total time = $\frac{73}{365}$ year Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ ⇒ Simple interest = $\frac{12300\times 12\times 73}{100\times 365}$ ⇒ Simple interest = $\frac{29520}{100}\approx$ INR 300 Hence, the correct answer is 300.
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Question : A man invested INR 4,500 at 5% per annum and INR 5,500 at 8% per annum simple interest. Both investments were for 4 years each. The amount received from the lower rate of interest is what percent (rounded off to the nearest integer) of the amount received from the higher rate of interest?
Option 1: 63%
Option 2: 74%
Option 3: 51%
Option 4: 48%
Question : A sum of INR 12,000 amounts to INR 15,000 in 5 years at the rate of simple interest. What is the rate of interest per annum?
Option 1: 8%
Option 2: 7%
Option 3: 6%
Option 4: 5%
Question : A sum of Rs. 2,000 becomes Rs. 3,120 in two years at a certain rate of simple interest. What is the rate of interest per annum?
Option 1: 34% per annum
Option 2: 33% per annum
Option 3: 30% per annum
Option 4: 28% per annum
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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