Excercise on Simple and Compound Interest – 1

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1. Ajinkya Rahane 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?





2. A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9%p.a. in 5 years. What is the sum?





3. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?





4. An automobile financier, Mr. Sachin Ferrari claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes:





5. Veer lent Rs. 5000 to Singh for 2 years and Rs. 3000 to Jat for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:





6. Mr. Robin Powar took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:





7. A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:





8. What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?





9. A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6 1/4 p.a for 2 years. Find his gain in the transaction per year.





10. Ramya took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?





11. A sum of Rs 2600 is lent out in two parts in such a way that the interest on one part at 10% for 5 years is equal to interest on 2nd part at the rate of 9% for 6 years. Find the two sums.





12.  A certain sum of money amounted to Rs. 575 at 5% in which Rs. 750 amounted to Rs. 840 at 4%. If the rate of interest is simple, find the sum?





13. Arun borrowed Rs. 400 from Varun at a simple interest of 5%. It is returned after 2 years and Varun returns 2% of total amount he got from Arun back. How much did Arun get back?





14. The simple interest on a certain sum of money  at 4% pafor 4 years is Rs. 80 more than the interest on the same amount for 3 years at 5% pa. Find the sum





15. Jaidev managed to get a loan for Rs.1000 from the Justice Bank to help pay for a computer. The Rs.1000 was obtained at a per annum interest rate of 3% and a period of 12 months.How much interest will Jaidev have to pay back to the Justice Bank over the 12 months? What's the total amount of money that the Justice Bank will end up getting back from Jaidev?





16. The difference between of CI and SI for a certain sum of money for 2 years at 10% pa is Rs. 450. Then what is the sum?





17.  A.C. Kodali invested some money at 9% pa for 2 years and the same amount at 10% pa for 2 years. Together they earned him Rs. 760. Find the amount invested?





18. Ravi deposits Rs. 10000 at the rate of 3% pa and gives his son an interest on his birthday 15th June. The gift amounts to Rs. 120. On what day was the deposit made?





19.  A man earns SI equal to 4/27th  of principal, he deposited in a bank. If the bank offered the interest rate equal to number of months the money was kept, find the rate of interest offered by the bank





20. Soumitra from China lent certain amount of money to DK. Bose at SI. The amount tripled in 30 years. What was the rate of interest?    





21.  Ajey invested a certain sum of money in a simple interest bond whose value grew to Rs.300 at the end of 3 years and to Rs. 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?





22. AJ Shatru invested a certain sum of money in a bank that paid simple interest. The amount grew to Rs.240 at the end of 2 years. She waited for another 3 years and got a final amount of Rs.300. What was the principal amount that she invested at the beginning?





23.  Aditya invested one half of his savings in a bond that paid simple interest for 2 years and received Rs. 550 as interest. He invested the remaining in a bond that paid compound interest, interest being compounded annually, for the same 2 years at the same rate of interest and received Rs.605 as interest. What was the value of his total savings before investing in these two bonds?





24. Two equal sums of money were lent out at 6% and 8% SI for 2 years. The total SI earned was Rs. 11200. What was the total sum?





25.  Find the effective annual rate of interest pa equivalent to a nominal rate of interest of 25% pa when interest in payable quarterly?









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