Online Exercise on Interest with Correct Answer Key and Solutions
Useful for all Competitive Exams
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Question 1 of 20
A man received Rs 12000 as Puja Bonus. He invested a part of it at 5% per annum and the remaining at 6% per annum on simple interest being allowed in each case. The total interest earned by him in 4 years is Rs 2580. The sum invested at 5% per annum is
Let the sum invested at 5% be Rs x.
According to the question,
⇒ x = Rs 7500.
Question 2 of 20
The simple interest accrued on a sum of certain principal is Rs 1,200 in four year at the rate of 8% p.a. What would be the simple interest accrued on thrice of that principal at the rate of 6% p.a in 3 year?
= Rs 3750
Simple interest on thrice that principal
= Rs 2025
Question 3 of 20
Mr. Sane invested a total amount of Rs 16,500 for two years in two schemes A and B with rate of simple interest 10 p.c.p.a. and 12 p.c.p.a. respectively. If the total amount of interest earned was Rs 3,620, what was the amount invested in scheme B?
% interest on total amount per annum
Now, use Alligation method.
Hence, ratio of amount invested in schemes A and B
Hence, amount invested in B
== Rs 8000
Question 4 of 20
Out of a certain sum, ⅓rd is invested at 3%, ⅙th at 6% and the rest at 8%. If the simple interest for 2 years from all these investments amounts to Rs 600, find the original sum.
Rate % per annum on total sum
Question 5 of 20
The simple interest on a sum of money is ¹⁄₉ of the principal and the number of years is equal to the rate % p.a. The rate % p.a. is
Here and R = T
Question 6 of 20
A sum of money lent out at simple interest amounts to Rs 720 after 2 years and to Rs 1,020 after a further period of 5 years. Find the sum and the rate %.
S.I. for 5 years
= Rs (1020 –720) = Rs 300
SI. for 2 years
∴ Principal = Rs (720 – 120) = Rs 600
Now, P = 600, T = 2, S.I. = 120
Question 7 of 20
A sum was put at simple interest at a certain rate for 4 years Had it been put at 2% higher rate, it would have fetched Rs 56 more. Find the sum.
Difference in S.I.
⇒ (Since R₁ – R₂ = 2)
Question 8 of 20
Adam borrowed some money at the rate of 6% p.a. for the first two years, at the rate of 9% p.a. for the next three years, and at the rate of 14% p.a. for the period beyond five years. If he pays a total interest of Rs 11,400 at the end of nine years, how much money did he borrow?
Let the sum borrowed be x. Then,
Hence, sum borrowed = Rs 12,000.
Question 9 of 20
Two equal sums of money were invested, one at 4% and the other at 4.5%. At the end of 7 years, the simple interest received from the latter exceeded to that received from the former by Rs 31.50. Each sum was :
Difference of S.I.
Let each sum be Rs x. Then
⇒ x = Rs 900
Question 10 of 20
A sum of Rs 725 is lent in the beginning of a year at a certain rate of interest. After 8 months, a sum of Rs 362.50 more is lent but at the rate twice the former. At the end of the year, Rs 33.50 is earned as interest from both the loans. What was the original rate of interest?
Let the original rate be R%.
Then, new rate = (2R)%.
Question 11 of 20
A father left a will of Rs 68,000 to be divided between his two sons aged 10 years and 12 years such that they may get equal amount when each attains the age of 18 years If the money is reckoned at 10% p.a., find how much each gets at the time of the will.
Let one gets = Rs x,
then, second gets = Rs (68,000 – x)
Given : A₁ = A₂
∴ second gets = Rs 36,000
Question 12 of 20
If there are three sum of money P,Q and R so that P is the simple interest of Q and Q is the simple interest of R, rate % and time are same in each case, then the relation of P, Q and R is given by
∴ Q² = PR.
Question 13 of 20
A milk man borrowed Rs 2,500 from two money lendeRs For one loan, he paid 5% p.a. and for the other, he paid 7% p.a. The total interest paid for two years was Rs 275. How much did he borrow at 7% rate?
Let he borrowed at 5% = Rs x
∴ He borrowed at 7% = Rs (2500 – x)
Now I₁ + I₂ = 275
⇒ 10x + 14 (2500 – x) = 27500
⇒ 4x = 35000 – 27500 = 7500
⇒ x = Rs 1875
∴ Sum borrowed at 7% rate
= 2500 – 1875 = Rs 625
Question 14 of 20
Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years If the total interest paid by him at the end of eleven years is Rs 8160, how much money did he borrow?
Let the sum be Rs x. Then,
⇒ 18 x + 45x + 39x = (8160 × 100)
⇒ 102x = 816000
⇒ x = 8000.
Question 15 of 20
Mr. Thomas invested an amount of Rs 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be Rs 3508, what was the amount invested in Scheme B?
Let the sum invested in Scheme A be Rs x and that in Scheme B be Rs (13900 – x).
⇒ 28x – 22x = 350800 – (13900 × 22)
⇒ 6x = 45000
⇒ x = 7500.
So, sum invested in Scheme B
= Rs (13900 – 7500) = Rs 6400.
Question 16 of 20
An amount of Rs 1,00,000 is invested in two types of shares. The first yields an interest of 9% p.a. and the second, 11% p.a. If the total interest at the end of one year is 9¾% , then the amount invested in each share was:
Let the sum invested at 9% be Rs x and that invested at 11% be Rs (100000 – x).
⇒ 2x = (1100000 – 975000) = 125000
⇒ x = 62500.
∴ Sum invested at 9% = Rs 62500.
Sum invested at 11%
= Rs (100000 – 62500) = Rs 37500.
Question 17 of 20
David invested certain amount in three different Schemes A, B and C with the rate of interest 10% p.a., 12% p.a. and 15% p.a. respectively. If the total interest accrued in one year was Rs 3200 and the amount invested in Scheme C was 150 % of the amount invested in Scheme A and 240% of the amount invested in Scheme B, what was the amount invested in Scheme B?
Let x, y and z be the amounts invested in schemes A, B and C respectively. Then,
⇒ 10x + 12y + 15z = 320000 … (i)
Now, z = 240% of y
= … (ii)
And, z = 150% of x
From (i), (ii) and (iii), we have :
16y + 12y + 36y = 320000
⇒ 64y = 320000
⇒ y = 5000.
∴ Sum invested in Scheme B = Rs 5000.
Question 18 of 20
Rajesh gave Rs 1200 on loan. Some amount he gave at 4% per annum simple interest and remaining at 5% per annum simple interest. After two years, he got Rs 110 as interest. Then the amounts given at 4% and 5% per annum simple interest are, respectively :
Let the amount of the loss at 4% per annum be Rs x.
Amount given at 5% per annum = Rs (1200 – x)
⇒ x = Rs 500
And, (1200 – x)
= 1200 – 500 = Rs 700
Question 19 of 20
Divide Rs 2379 into 3 parts so that their amounts after 2, 3 and 4 years respectively may be equal, the rate of interest being 5% per annum at simple interest. The first part is:
Let the parts be x, y and [2379 – (x + y)].
But x + y +z = 2379.
⇒ 1380 k + 1320 k + 1256 k
= 2379 × 11 × 23 × 6
Hence, the first part is Rs 828.
Question 20 of 20
Simple interest on a certain amount is ⁹⁄₁₆ of the principal. If the numbers representing the rate of interest in percent and time in years be equal, then time, for which the principal is lent out, is: