Q: How much simple interest will ₹6,700 earn in 13 months at a $ 12\% $ interest rate per annum?

₹871 — Simple Interest $ = \frac{P \times R \times T}{100} = \frac{6700 \times 12 \times (\frac{13}{12})}{100} = 67 \times 13 = 871 $.

Q: Ramesh has $₹18,000$. He deposited $₹7,000$ in a bank at $5\%$ p.a. and $₹6,000$ in another bank at $6\%$ p.a. simple interest. If he received $₹1,160$ as simple interest at the end of one year, the rate of interest on the rest of the capital is:

$9\%$ — Interest = $(7000 \times 5\%) + (6000 \times 6\%) = 350 + 360 = 710$. Rest SI = $1160 - 710 = 450$. Rest capital = $5000$. Rate = $(450 / 5000) \times 100 = 9\%$.

Question 1

Kiran lent $₹4,000$ to two persons such that one part of it at the rate of $8\%$ per annum and the remaining part at the rate of $10\%$ per annum. He got an annual simple interest of $₹352$. Then the sum lent at $10\%$ is:

Accepted Answer

$₹1,600$ — Let $x$ be the sum at $10\%$. $0.08(4000 - x) + 0.10x = 352 \Rightarrow 320 - 0.08x + 0.10x = 352 \Rightarrow 0.02x = 32 \Rightarrow x = 1600$.

Question 2

How much simple interest will ₹6,700 earn in 13 months at a $ 12\% $ interest rate per annum?

Accepted Answer

₹871 — Simple Interest $ = \frac{P 	imes R 	imes T}{100} = \frac{6700 	imes 12 	imes (\frac{13}{12})}{100} = 67 	imes 13 = 871 $.

Question 3

Mohan borrows a sum of ₹4,22,092 at the rate of 20% per annum simple interest. At the end of the first year, he repays 21,679 towards return of principal amount borrowed. If Mohan clears all pending dues at the end of the second year, including interest payment that accrued during the first year, how much does he pay (in ) at the end of the second year?

Accepted Answer

564914 — Interest Yr 1 = 84,418.4. Principal left = 4,22,092 - 21,679 = 4,00,413. Interest Yr 2 = 80,082.6. Total to pay = 4,00,413 + 80,082.6 + 84,418.4 = 5,64,914.

Question 4

Ramesh has $₹18,000$. He deposited $₹7,000$ in a bank at $5\%$ p.a. and $₹6,000$ in another bank at $6\%$ p.a. simple interest. If he received $₹1,160$ as simple interest at the end of one year, the rate of interest on the rest of the capital is:

Accepted Answer

$9\%$ — Interest = $(7000 	imes 5\%) + (6000 	imes 6\%) = 350 + 360 = 710$. Rest SI = $1160 - 710 = 450$. Rest capital = $5000$. Rate = $(450 / 5000) 	imes 100 = 9\%$.

Question 5

If a sum of ₹5,000 is taken at a simple rate of interest of 15% per annum for 3 years and another sum of ₹8,000 is taken at a simple interest of 12% per annum for 4 years, the positive difference of the interests paid is:

Accepted Answer

₹1,590 — Interest 1 = (5000 * 15 * 3) / 100 = 2250. Interest 2 = (8000 * 12 * 4) / 100 = 3840. Difference = 3840 - 2250 = ₹1,590.

Simple Interest — Questions with Solutions

Q1. Kiran lent $₹4,000$ to two persons such that one part of it at the rate of $8\%$ per annum and the remaining part at the rate of $10\%$ per annum. He got an annual simple interest of $₹352$. Then the sum lent at $10\%$ is:

Q2. How much simple interest will ₹6,700 earn in 13 months at a $ 12\% $ interest rate per annum?

Q4. Ramesh has $₹18,000$. He deposited $₹7,000$ in a bank at $5\%$ p.a. and $₹6,000$ in another bank at $6\%$ p.a. simple interest. If he received $₹1,160$ as simple interest at the end of one year, the rate of interest on the rest of the capital is:

Q5. If a sum of ₹5,000 is taken at a simple rate of interest of 15% per annum for 3 years and another sum of ₹8,000 is taken at a simple interest of 12% per annum for 4 years, the positive difference of the interests paid is: