ad

36. Sam takes a loan of $₹500$ for his business on $3\text{rd}$ May $2001.$ He had to pay the amount with $6\%$ rate of interest on $15\text{th}$ July $2001.$ What is the simple interest to be paid? | |

A. $₹9$ | B. $₹8$ |

C. $₹4$ | D. $₹6$ |

Discuss |

answer with explanation

Answer: Option D

Explanation:

Time from $3\text{rd}$ May $2001$ to $15\text{th}$ July $2001$

$=28$ days of May + $30$ days of June + $15$ days of July

$=73$ days $=\dfrac{73}{365}$ years $=\dfrac{1}{5}$ years

Note: Since $3\text{rd}$ May $2001$ is the starting date, it is not included in the counting.

Simple interest $=\dfrac{500×6×\dfrac{1}{5}}{100}=6$

37. Find the simple interest on $₹7500$ at $11\%$ for $2$ years and $5$ months. | |

A. $₹1994.25$ | B. $₹1993.75$ |

C. $₹1991.25$ | D. $₹1992.75$ |

Discuss |

answer with explanation

Answer: Option B

Explanation:

T $=2$ years $5$ months $=29$ months $=\dfrac{29}{12}$ years

SI $=\dfrac{7500×11×\dfrac{29}{12}}{100}=1993.75$

38. Arun borrowed a sum for $4$ years on simple interest at $12\%.$ The total interest paid was $₹360.$ Find the principal. | |

A. $₹650$ | B. $₹800$ |

C. $₹750$ | D. $₹700$ |

Discuss |

answer with explanation

Answer: Option C

Explanation:

$\text{P}=\dfrac{100×360}{12×4}=750$39. What is the simple interest on a loan of $₹1820,$ if it is taken on March $9,2003$ and to be paid back with simple interest on May $21,2003$ at $7\dfrac{1}{2}\%$ rate? | |

A. $₹22.50$ | B. $₹27.30$ |

C. $₹28.80$ | D. $₹29$ |

Discuss |

answer with explanation

Answer: Option B

Explanation:

Time from March $9,2003$ to May $21,2003$

$=22$ days of March $+30$ days of April $+21$ days of May

$=73$ days $=\dfrac{73}{365}$ years $=\dfrac{1}{5}$ years

Note: Since March $9,2003$ is the starting date, it is not included in the counting.

Rate $=7\dfrac{1}{2}\%=\dfrac{15}{2}\%$

$\text{SI}=\dfrac{1820×\dfrac{15}{2}×\dfrac{1}{5}}{100}=27.30$

40. At what rate percent of simple interest will a sum of money double itself in $20$ years? | |

A. $6\%$ | B. $8\%$ |

C. $5\%$ | D. $4\%$ |

Discuss |

answer with explanation

Answer: Option C

Explanation:

Let sum be $x$

T $=20$ years

Since the money doubles, simple interest $=x$

$\text{R}=\dfrac{100×\text{SI}}{\text{PT}}=\dfrac{100×x}{x×20}=5$

If rate of interest is $100\%,$ money doubles in $1$ year.

If rate of interest is $\left(\dfrac{100}{20}\right)\%,$ money doubles in $20$ years. That is, required interest rate is $5\%$

preview