Question : The simple interest on a sum of money in 6 years at the rate of 15% per annum is INR 1,440 less than the simple interest accrued on the same sum in 9 years at 18% per annum. What is the sum of money (in INR)?
Option 1: 1800
Option 2: 2000
Option 3: 2700
Option 4: 2400
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Correct Answer: 2000
Solution : Let the principal be $P$. Simple interest1st $=\frac{\text{Principal × Rate × Time}}{100}$$=\frac{P\times 15\times 6}{100}=\frac{90P}{100}$ And, Simple interest2nd $=\frac{P\times 18\times 9}{100}=\frac{162P}{100}$ According to the question, Simple interest1st = Simple interest2nd – 1440 ⇒ $\frac{90P}{100}=\frac{162P}{100}-1440$ ⇒ $\frac{162P-90P}{100}=1440$ ⇒ $72P=144000$ ⇒ $P=\frac{144000}{72}$ = INR 2000 Hence, the correct answer is 2000.
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Question : The simple interest on a certain sum for 3 years at 8% per annum is INR 9120 less than the simple interest on the same sum for 7 years at 8% per annum. Find the sum.
Option 1: INR 28,500
Option 2: INR 28,250
Option 3: INR 28,750
Option 4: INR 28,000
Question : If the difference between the compound interest and simple interest on a certain sum of money for 3 years at the rate of 4% per annum is INR 76, then what is the sum?
Option 1: INR 16,725
Option 2: INR 12,925
Option 3: INR 15,625
Option 4: INR 18,825
Question : The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is Rs. 840. The rate of interest for which the same amount of interest can be received on the same sum after 5 years is:
Option 1: 7% per annum
Option 2: 8% per annum
Option 3: 9% per annum
Option 4: 10% per annum
Question : A man borrowed a certain sum of money at the rate of 10% per annum simple interest for the first three years and 15% per annum simple interest for the period beyond three years. If he pays a total interest of INR 2,884.50 at the end of 7 years, then the sum of money (in INR) that he borrowed is:
Option 1: 3,860
Option 2: 3,090
Option 3: 4,550
Option 4: 3,205
Question : The difference between the simple and compound interest on a certain sum of money at an $8\%$ rate of interest per annum for two years is INR 56. Find the sum.
Option 1: INR 8750
Option 2: INR 7058
Option 3: INR 7805
Option 4: INR 8057
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