6/16/2019 Simple Interest - Solved Examples - Set 1

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Important Formulas 1. How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per
annum of simple interest?
More Formulas

Solved Examples - Set 1 A. 2 years B. 3 years

Solved Examples - Set 2

C. 1 year D. 4 years
Solved Examples - Set 3
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Solved Examples - Set 4
Here is the answer and explanation
Solved Examples - Set 5

Solved Examples - Set 6 Answer : Option A

Solved Examples - Set 7 Explanation :

Solved Examples - Set 8 P = Rs.900

Solved Examples - Set 9
SI = Rs.81
Solved Examples - Set 10

T=?

R = 4.5%

100 × SI 100 × 81
T=  = = 2 years
PR 900 × 4.5

2. Arun took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If
he paid Rs.686 as interest at the end of the loan period, what was the rate of interest?

A. 8% B. 6%

C. 4% D. 7%

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Answer : Option D

Explanation :

Let rate = R%

Then, Time, T = R years

P = Rs.1400

SI = Rs.686

PRT
SI= 
100

1400 × R × R
⇒ 686 = 
100

2
⇒ 686 = 14 R

2
⇒ 49 = R

⇒ R = 7

i.e.,Rate of Interest was 7%

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6/16/2019 Simple Interest - Solved Examples - Set 1
3. A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years.
The sum is :

A. Rs. 700 B. Rs. 690

C. Rs. 650 D. Rs. 698

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Answer : Option D

Explanation :

Simple Interest (SI) for 1 year = 854-815 = 39

Simple Interest (SI) for 3 years = 39 × 3 = 117

Principal = 815 - 117 = Rs.698

4. A sum fetched a total simple interest of Rs. 929.20 at the rate of 8 p.c.p.a. in 5 years. What is
the sum?

A. Rs. 2323 B. Rs. 1223

C. Rs. 2563 D. Rs. 2353

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Answer : Option A

Explanation :

SI = Rs.929.20

P=?

T = 5 years

R = 8%

100 × SI 100 × 929.20

P =  =  = Rs.2323
RT 8 × 5

5. 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?

A. Rs. 6400 B. Rs. 7200

C. Rs. 6500 D. Rs. 7500

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Answer : Option A

Explanation :

Let the investment in scheme A be Rs.x

and the investment in scheme B be Rs.(13900 - x)

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6/16/2019 Simple Interest - Solved Examples - Set 1
PRT
We know that SI = 
100

x × 14 × 2 28x
Simple Interest for Rs.x in 2 years at 14% p.a. =  =
100 100

(13900 − x) × 11 × 2 22(13900 − x)
Simple Interest for Rs.(13900 - x) in 2 years at 11% p.a. =  =
100 100

Total interest = Rs.3508

28x 22(13900 − x)
+ = 3508
100 100

28x + 305800 − 22x = 350800

6x = 45000

45000
x = = 7500
6

Investment in scheme B = 13900 - 7500 = Rs.6400

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10

Comments(17) Sort Sign in (optional)

showing 1-10 of 17 comments, sorted newest to the oldest
ashwini 4 years ago

Simple Interest on certain sum at the rate of 10% per annum for 6 years and 7 years differs by
rs.650/- what is the sum ? give me answer fast

(0) (0) Reply

Dev 4 years ago

Simple interest for one year = 650

PRT/100 = 650
P * 10 * 1/100 = 650
P = 6500
The sum is Rs.6500

(0) (0) Reply

newwave 4 years ago

A certain sum of money amounts to Rs.1008 in 2 years and to Rs.1164 in 3.5 years.find the sum
and rate of interest.

(0) (0) Reply

Bratisankar 4 years ago

in 3.5 yrs the amount 1164

in 2 yrs the amount 1008 -
___________________________
the 1.5 yrs interest is 156
the 1 yr interest is 156/1.5 =104
the 2 yrs interest is 208 rs
principal=1008-208= 800
rate of interest=(104/800)*100
=13%

(0) (0) Reply

Jay 4 years ago

Let the amount be P and rate of interest be R%

Simple Interest on P for 2 years = (1008-P)

P * 2 * R/100 = (1008-P)
2PR = 100(1008-P) ----(eq:1)

Simple Interest on P for 3.5 years = (1164-P)

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6/16/2019 Simple Interest - Solved Examples - Set 1
P * 3.5 * R/100 = (1008-P)
3.5PR = 100(1164-P) ----(eq:2)

(eq:1)/(eq:2) 2/3.5 = 100(1008-P)/100(1164-P)

20/35 = (1008-P)/(1164-P)
4/7 = (1008-P)/(1164-P)

4(1164-P) = 7(1008-P)
4656 - 4P = 7056 - 7P
3P = 2400
P = 800

From eq1, 2*800*R = 100(1008-800)

2*800*R = 100*208
R = 13
Rate of Interest is 13%

(0) (0) Reply

Suhani 4 years ago

A alone can complete a work in 16 days and B alone in 12 days. Starting with A,they work on
alternate days. The total work will be completed in how many days? please tell answer.

(0) (0) Reply

Rajeev 2 years ago

A-16 -3
B-12 LCM:48 -4

A+B 2 days - 7

48/7 = 6
balance: 48-42 = 6
A- 3 (13th day)
B- 3, (3/4 day)

Ans: 13 3/4 days.

(0) (0) Reply

Dev 4 years ago

Work done by A in 1 day is 1/16 and work done by B in 1 day is 1/12

In day 1, only A works and total work gets completed = 1/16

In day 2, only B works and total work gets completed = 1/12
this pattern continues till total work gets completed

Work completed in every 2 days = 1/16 + 1/12 = 7/48

So in 2*6 = 12 days, 6*7/48 = 42/48 = 7/8 work gets completed

in 13th day, total work gets completed = 7/8 + 1/16 = 15/16

Remaining work = 1/16

days taken by B to complete this = (1/16)/(1/12) = 3/4 days

So total work gets completed in 13 3/4 days

(0) (0) Reply

Athira 4 years ago

3w/d--->A---16 (1)

4w/d---->B---12 (2)
.........................
7w/d---->A+B....48w

TOTAL DAYS =13 3/4 days

A B A B A B A B A B A B A
3W 4W 3W 4W 3W 4W 3W 4W 3W 4W 3W 4W 3W

(0) (0) Reply

Akshay 3 years ago

Athira, Couldn't able to understand the equations you made.

Pls explain

(0) (0) Reply

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6/16/2019 Simple Interest - Solved Examples - Set 1

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