The difference in the interests received from two different banks on Rs. 2000 for 3 years is Rs. 300. Then the difference in their rates is:

 a) 1%
 b) 2%
 c) 4%
 d) 5%

5% Solution Let the rates of two banks be x% and y%.

Calculate the simple interest on Rs 4480 at 8%per annum for 3 years?

 a) 1035
 b) 1075.20
 c) 858.50
 d) 2330

1075.20. Solution P = Rs. 4480 R = 8% R = 3 years SI = PNR/100 = (4480 x 8 x 3)/100 = 1075.20

A sum of Rs 1600 lent at simple interest at 12.5% per annum will become double in:

 a) 3 years
 b) 7 ¼ years
 c) 8 years
 d) 9 ¼ years

SSC CHSL-2015

8 years. Solution SI = PNR/100 SI= 1600 P =1600, N = 12.5% N = (SI x 100)/ PR ==> N = 8

The simple interest on a sum of money is 1/9 th of the principal and the number of year is equal to the rate percent per annum. The rate of interest per annum is:

 a) 2 %
 b) 7 %
 c) 9%
 d) 10/3 %

Ans: d. Solution Let Principal = x SI = x/9 R = T; R =10/3

A certain amount earns simple interest of Rs. 645 after 12 years. Had the interest been 2.5% more, how much more interest would it have earned?

 a) Rs. 125
 b) Rs. 350
 c) Rs. 343
 d) Cannot be determined

Cannot be determined. Since we do not have the principal and rate of interest, we can not find out the required details.

A sum of money amounts to Rs. 8940 after 7 years and Rs.11040 after 12 years at the same rate of simple interest. The rate of interest per annum is:

 a) 7 %
 b) 8 %
 c) 9 %
 d) 11 %

7 %. Solution Simple Interest for 5 years = (11040 - 8940) = Rs. 2100 Simple Interest for 7 years = (2100 x 7)/5 = Rs. 2940 Principal amount = 8940 - 2940 = Rs. 6000 R = (SI x 100)/PR = (100 x 2940)/(6000 x 7) = 70%

Jinesh borrows Rs.8000 for 3 years at 5% p.a. simple interest. He immediately lends it to Vineeth at 6¼% p.a for 3 years. Find his gain in the transaction.
 a) 225
 b) 112.5
 c) 250
 d) 300

300. Solution Simple interest at 5% for 3 years ,SI = (8000 x 5 x 3)/100 = 1200 Simple interest at 6¼% for 3 years, SI =(8000 x 6¼ x 3)/100 = 1500 Gain of Jinesh in the transaction = 1500 - 1200 = Rs. 300

Mohan invested an amount of Rs. 7500 divided in two different schemes P and Q at the simple interest rate of 8% p.a. and 12% p.a. respectively. If the total amount of simple interest earned in 3 years be Rs. 2400, what was the amount invested in Scheme Q?
 a) 5000
 b) 2500
 c) 3230
 d) 2777

5000. Solution Let the Sum invested in Scheme P be Rs. x and that in Scheme Q be Rs. (7500 - x). Then,(x x 8 x 3)/100 + (7500 - x) x 12 x 3/100 = 2400 ==> x = 2500. So, sum invested in Scheme Q = Rs. (7500 - 2500) = Rs. 5000

Nikesh took a loan of Rs. 1500 with simple interest for as many years as the rate of interest. If he paid Rs.540 as interest at the end of the loan period, what was the rate of interest?

 a) 5%
 b) 6%
 c) 8%
 d) 9%

6%. Solution Let rate = R% Then, Time, T = R years P = Rs.1500 SI = Rs.540 ==> 540 = (1500 x R x R)/100 ==> 540 = 15R2 R2 = 540/15 R = 6

A sum of money at simple interest amounts to Rs.1568 in 4 years and to Rs. 1653.75 in 4 years. The sum is:

 a) 1225
 b) 1250
 c) 950
 d) 1500

1225. Solution S.I. for 1 year = (1653.75 - 1568) = Rs. 85.75 S.I. for 4 years = Rs.(85.75 x 5) = Rs. 343 Principal = Rs. (1568 - 343) = Rs. 1225