Simple Interest Word Problem

In what time will a sum of money double it at 8% per annum?

• 10 years

• 12 & 1/2 years

• 11 & 1/2 years

• 10 years 7 months

P & Q invest Rs 36,000 and Rs 25,000 respectively at the same rate of interest per year. If at the end of 4 years P gets Rs 3,080 more interest that Q; find rate of interest.

• 8.5% p.a

• 8% p.a

• 6.0% p.a

• 7.0% p.a

In 4 years Rs 6000 amounts to Rs 8000. What time will Rs 525 amount to Rs 700 at same rate of interest?

• 3 years

• 3 years 6 months

• 4 years

• 5 years

Rakesh lent out Rs . 8000 for 5 years at 15 % per annum and borrowed Rs . 6000 for 3 years at 12% per annum . How much did he gain or lose ?

• Gained Rs 3840

• Lost Rs 2800

• Gained Rs 3430

• Lost Rs 3840

Mr.Garg lent Rs . 15000 to his friend . He charged 15% per annum on Rs. 12500 and 18% on the rest . How much interest does he earn in 3 years ?

• Rs 6795

• Rs 6597

• Rs 6759

• Rs 6975

A person deposits Rs . 25000 in a firm who pays an interest at the rate of 20 % per annum . Calculate the income he gets from it annually .

• Rs 5000

• Rs 50000

• Rs 500

• Rs 5001

Nalini borrowed Rs . 550 from her friend at 8% per annum . She returned the amount after six months . How much did she pay ?

• 582

• 562

• 552

• 572

Romesh borrowed Rs . 2000 at 2% per annum and Rs . 1000 at 5% per annum . He cleared his debt after 2 years by giving Rs . 2800 and a watch . What is the cost of watch ?

• 340

• 393

• 380

• 330

ChinLee bought a jet ski for $4,900 with a loan from his bank for 9% interest. He has to pay it back in 7 years. How much interest will he pay? How much is the total cost jet ski cost?

• $3087 Interest

  $7987 Total

• $200 Interest

  $5100 Total

• $2050 Interest

  $6950 Total

• $6984 Interest

  $0

Charlie wanted to buy a blue F150 that costs $28,000. He went to the bank and took out a loan for 8% interest for 3 years. How much interest will he pay on this loan?

• $6,720

• $780

• $2800

• $500