Question : The simple interest on Rs. 800 for 6 years at 5.5% per annum is equal to the simple interest on Rs. 600 at 4% per annum for a certain period. The period is:
Option 1: 11 years
Option 2: 9 years
Option 3: 12 years
Option 4: 10 years
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Correct Answer: 11 years
Solution : Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ Simple interest on Rs. 800 for 6 years at 5.5% per annum = $\frac{800 \times 5.5 \times 6}{100} =$ Rs. 264 Simple interest on Rs. 600 at 4 % per annum for a period T = Rs. $264$ $\therefore \frac{600 \times 4\times T}{100}= 264$ $\Rightarrow T = \frac{264 \times 100}{600\times 4}$ $\therefore T = 11$ years Hence, the correct answer is 11 years.
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Question : The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
Option 1: Rs. 520
Option 2: Rs. 550
Option 3: Rs. 500
Option 4: Rs. 515
Question : Rohan borrowed a certain sum of money at simple interest. The rate of interest was 3% per annum for the first 3 years, 4% per annum for the next 5 years and 6% per annum for the next 7 years. If he paid Rs. 2,059 as interest, then what is the sum borrowed (in Rs.)?
Option 1: 2400
Option 2: 2500
Option 3: 2900
Option 4: 3100
Question : The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. The rate of interest per annum is:
Option 1: 6%
Option 2: 7%
Option 3: 8%
Option 4: 9%
Question : The difference between Compound Interest and Simple Interest on a certain sum of money for 2 years at 5% per annum is Rs. 41. What is the total sum?
Option 1: Rs. 7,200
Option 2: Rs. 9,600
Option 3: Rs. 16,400
Option 4: Rs. 8,400
Question : If the difference between the compound interest and simple interest on a certain sum at the rate of 5% per annum for 2 years is Rs. 20, then the sum is:
Option 1: Rs. 2000
Option 2: Rs. 4000
Option 3: Rs. 6000
Option 4: Rs. 8000
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