simple interest problems with solutions - Wikitechy https://www.wikitechy.com/interview-questions/tag/simple-interest-problems-with-solutions/ Interview Questions Mon, 20 Sep 2021 10:22:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.wikitechy.com/interview-questions/wp-content/uploads/2025/10/cropped-wikitechy-icon-32x32.png simple interest problems with solutions - Wikitechy https://www.wikitechy.com/interview-questions/tag/simple-interest-problems-with-solutions/ 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 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 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%

]]> 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/feed/ 0 Vijay invested Rs.50,000 partly at 10% and partly at 15%. His total income after a year was Rs.7000. How much did he invest at the rate of 10% ? https://www.wikitechy.com/interview-questions/compound-interest/vijay-invested-rs-50000-partly-at-10-and-partly-at-15-his-total-income-after-a-year-was-rs-7000-how-much-did-he-invest-at-the-rate-of-10/ https://www.wikitechy.com/interview-questions/compound-interest/vijay-invested-rs-50000-partly-at-10-and-partly-at-15-his-total-income-after-a-year-was-rs-7000-how-much-did-he-invest-at-the-rate-of-10/#respond Tue, 17 Aug 2021 14:59:21 +0000 https://www.wikitechy.com/interview-questions/?p=1788

Vijay invested Rs.50,000 partly at 10% and partly at 15%. His total income after a year was Rs.7000. How much did he invest at the rate of 10% ?

A. 40,000

B. 41,000

C. 12,000

D. 20,000

Answer : A. 40,000…

Explanation :

Let the amount Vijay invested at the rate of 10% = Rs x
The amount invested at 15% = Rs (50,000 – x)
Time = 1yr
Income from 10% rate = 10% of x = x/10
Income from 15% rate = 15% of (50,000 – x) = (150,000 – 3x)/20

According to question,
[x/10] + [(150,000 – 3x)/20] = 7000
150000 – x = 140000
x = 10,000.
Therefore, he has invested Rs 10,000 at 10% and Rs 40,000 at 15%.

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