Question : The rate of interest per annum at which the total simple interest of a certain capital for 1 year is equal to the total simple interest of the same capital at the rate of 5% per annum for 2 years, is:
Option 1: $\frac{5}{2}$%
Option 2: $10$%
Option 3: $25$%
Option 4: $12.5$%
Correct Answer: $10$%
Solution : Given: R = R% in the first case and 5% in the second case. T = 1 year for the first case and 2 years for the second case. Let P be the capital, which is equal in both cases. We know that, Simple Interest = $\frac{\text{Principle×Rate×Time}}{100}$ When simple interest is the same, then, $\frac{\text{P×R×1}}{100}$ = $\frac{\text{P×5×2}}{100}$ $\therefore$ R = 10% Hence, the correct answer is $10$%.
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Question : The simple interest on a sum of money for 3 years is Rs. 240 and the compound interest on the same sum at the same rate for 2 years is Rs. 170. The rate of interest is:
Question : A sum amount doubles in 8 years by simple interest. Then the rate of simple interest per annum is:
Question : The Simple Interest on a sum of money is $\frac{1}{4}$ of the principal, and the number of years is equal to the rate percent per annum. The rate percent is:
Question : Ramesh borrowed INR 15,000 at a certain rate of simple interest from a bank. He repaid (the principal but not interest) INR 6,000 after 5 years, and after 5 more years he paid INR 18,600 and settled his account. Find the rate of simple interest per annum.
Question : A sum amounts to INR 7,656 in 4 years and to INR 8,120 in 5 years at a certain simple interest rate percent per annum. The rate of interest is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile