Simple Interest - Wikitechy https://www.wikitechy.com/interview-questions/category/simple-interest/ Interview Questions Mon, 20 Sep 2021 10:22:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 https://www.wikitechy.com/interview-questions/wp-content/uploads/2025/10/cropped-wikitechy-icon-32x32.png Simple Interest - Wikitechy https://www.wikitechy.com/interview-questions/category/simple-interest/ 32 32 Ramakant wants to earn Rs. 1500 interest on his deposits. He plans to buy a sack of grains with the interest. He puts Rs. 5,000 into his account that earns 2.5% interest. How long will he need to leave his money in the account to earn this interest that would help him buy the sack of grains ? https://www.wikitechy.com/interview-questions/simple-interest/ramakant-wants-to-earn-rs-1500-interest-on-his-deposits-he-plans-to-buy-a-sack-of-grains-with-the-interest-he-puts-rs-5000-into-his-account-that-earns-2-5-interest-how-long-will-he-need-to-leav/ https://www.wikitechy.com/interview-questions/simple-interest/ramakant-wants-to-earn-rs-1500-interest-on-his-deposits-he-plans-to-buy-a-sack-of-grains-with-the-interest-he-puts-rs-5000-into-his-account-that-earns-2-5-interest-how-long-will-he-need-to-leav/#respond Wed, 18 Aug 2021 02:33:59 +0000 https://www.wikitechy.com/interview-questions/?p=2067

Ramakant wants to earn Rs. 1500 interest on his deposits. He plans to buy a sack of grains with the interest. He puts Rs. 5,000 into his account that earns 2.5% interest. How long will he need to leave his money in the account to earn this interest that would help him buy the sack of grains ?

A . 8 years

B . 10 years

C . 12 years

D . 15 years

Answer : C . 12 years

Explanation :

S.I = 1500
P = 5000
R = 2.5
S.I = P * T * R / 100
P * T * R / 100 = 1500
(5000 * 2.5 * T) / 100 = 1500
T = 12 years.

]]> https://www.wikitechy.com/interview-questions/simple-interest/ramakant-wants-to-earn-rs-1500-interest-on-his-deposits-he-plans-to-buy-a-sack-of-grains-with-the-interest-he-puts-rs-5000-into-his-account-that-earns-2-5-interest-how-long-will-he-need-to-leav/feed/ 0 Alok deposits Rs.5000 in his bank account for 5 years to earn an interest of 12%. What amount will he get after 5 years ? https://www.wikitechy.com/interview-questions/simple-interest/alok-deposits-rs-5000-in-his-bank-account-for-5-years-to-earn-an-interest-of-12-what-amount-will-he-get-after-5-years/ https://www.wikitechy.com/interview-questions/simple-interest/alok-deposits-rs-5000-in-his-bank-account-for-5-years-to-earn-an-interest-of-12-what-amount-will-he-get-after-5-years/#respond Wed, 18 Aug 2021 02:32:24 +0000 https://www.wikitechy.com/interview-questions/?p=2066

Alok deposits Rs.5000 in his bank account for 5 years to earn an interest of 12%. What amount will he get after 5 years ?

A . Rs 2000

B . Rs 3000

C . Rs 8300

D . Rs 8000

Answer : D . 8000

Explanation:

P = 5000 ; N = 5 ; R = 12
Simple Interest = PNR / 100
= 5000 * 5 * 12 / 100
S.I = 3000 amount
After 5 yrs = Principle + S.I
= 5000 + 3000
= 8000

]]> https://www.wikitechy.com/interview-questions/simple-interest/alok-deposits-rs-5000-in-his-bank-account-for-5-years-to-earn-an-interest-of-12-what-amount-will-he-get-after-5-years/feed/ 0 A Certain sum of money amounts to Rs 2500 in a span of 5 years and further to Rs.3000 in a span of 7 years at simple interest. The sum is ? https://www.wikitechy.com/interview-questions/simple-interest/a-certain-sum-of-money-amounts-to-rs-2500-in-a-span-of-5-years-and-further-to-rs-3000-in-a-span-of-7-years-at-simple-interest-the-sum-is/ https://www.wikitechy.com/interview-questions/simple-interest/a-certain-sum-of-money-amounts-to-rs-2500-in-a-span-of-5-years-and-further-to-rs-3000-in-a-span-of-7-years-at-simple-interest-the-sum-is/#respond Wed, 18 Aug 2021 02:30:58 +0000 https://www.wikitechy.com/interview-questions/?p=2065

A Certain sum of money amounts to Rs 2500 in a span of 5 years and further to Rs.3000 in a span of 7 years at simple interest. The sum is_____

A. 1200

B. 1250

C. 1050

D. 1000

Answer : B. 1250

Explanation :

As the rate of interest for both the cases are same
A1, A2 = Total Amounts , P = Principal Amount , T1, T2 = Time Period involved in years
(A1 – P) / T1 = (A2 – P) / T2
(2500 – P) / 5 = (3000 – P) / 7
17500 – 7P = 15000 – 5P
P = 1250

]]> https://www.wikitechy.com/interview-questions/simple-interest/a-certain-sum-of-money-amounts-to-rs-2500-in-a-span-of-5-years-and-further-to-rs-3000-in-a-span-of-7-years-at-simple-interest-the-sum-is/feed/ 0 The simple interest earned on a certain amount is double the amount when invested for 10 years. What is the interest rate being offered ? https://www.wikitechy.com/interview-questions/simple-interest/the-simple-interest-earned-on-a-certain-amount-is-double-the-amount-when-invested-for-10-years-what-is-the-interest-rate-being-offered/ https://www.wikitechy.com/interview-questions/simple-interest/the-simple-interest-earned-on-a-certain-amount-is-double-the-amount-when-invested-for-10-years-what-is-the-interest-rate-being-offered/#respond Wed, 18 Aug 2021 02:29:23 +0000 https://www.wikitechy.com/interview-questions/?p=2064

The simple interest earned on a certain amount is double the amount when invested for 10 years. What is the interest rate being offered ?

A. 40%

B. 20%

C. 15%

D. 12%

Answer : B. 20%

Explanation:

Interest Earned = 2 Times
Invested year = 10
Interest rate = 2 * 10 = 20

]]> https://www.wikitechy.com/interview-questions/simple-interest/the-simple-interest-earned-on-a-certain-amount-is-double-the-amount-when-invested-for-10-years-what-is-the-interest-rate-being-offered/feed/ 0 If the simple interest on a certain sum of money is 4/25 of the sum and the rate percent equals the number years, then the rate of interest per annum is ? https://www.wikitechy.com/interview-questions/simple-interest/if-the-simple-interest-on-a-certain-sum-of-money-is-4-25-of-the-sum-and-the-rate-percent-equals-the-number-years-then-the-rate-of-interest-per-annum-is/ https://www.wikitechy.com/interview-questions/simple-interest/if-the-simple-interest-on-a-certain-sum-of-money-is-4-25-of-the-sum-and-the-rate-percent-equals-the-number-years-then-the-rate-of-interest-per-annum-is/#respond Wed, 18 Aug 2021 02:28:06 +0000 https://www.wikitechy.com/interview-questions/?p=2063

If the simple interest on a certain sum of money is 4/25 of the sum and the rate percent equals the number years, then the rate of interest per annum is ?

A. 4 %

B. 5 %

C. 8 %

D. 10 %

Answer : A. 4 %…

Explanation :

Let the principal be Rs.x, then the simple interest (I) = (4 / 25 )x.
The rate of interest per annum be r% then time (T) = r years
R = ( 100 * I ) / ( P * T )
r = ( 100 * ( 4/25 ) x ) / ( x * r )
r2 = 400 / 25
r = 20 / 5
= 4 %

]]> https://www.wikitechy.com/interview-questions/simple-interest/if-the-simple-interest-on-a-certain-sum-of-money-is-4-25-of-the-sum-and-the-rate-percent-equals-the-number-years-then-the-rate-of-interest-per-annum-is/feed/ 0 A certain sum of money amounts to Rs.1300 in 2 years and to Rs. 1525 in 3.5 years. Find the sum and the rate of interest ? https://www.wikitechy.com/interview-questions/simple-interest/a-certain-sum-of-money-amounts-to-rs-1300-in-2-years-and-to-rs-1525-in-3-5-years-find-the-sum-and-the-rate-of-interest/ https://www.wikitechy.com/interview-questions/simple-interest/a-certain-sum-of-money-amounts-to-rs-1300-in-2-years-and-to-rs-1525-in-3-5-years-find-the-sum-and-the-rate-of-interest/#respond Wed, 18 Aug 2021 02:26:10 +0000 https://www.wikitechy.com/interview-questions/?p=2062

A certain sum of money amounts to Rs.1300 in 2 years and to Rs. 1525 in 3.5 years. Find the sum and the rate of interest ?

A. Rs 850 , 10%

B. Rs 900, 12%

C. Rs 800, 13%

D. Rs 1000,15%

Answer : D. Rs 1000, 15%…

Explanation :

1525 – 1300 = 225 for 1.5 yrs (3.5 – 2)
So for one yr 225 / 1.5 = 150
then for 2 yrs interest is 150 + 150 = 300
Then principal 1300 – 300 = 1000.
Now 150 / 1000 * 100 = 15%

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