An amount of Rs. 2143 is split into two parts. The first part is invested @10% for 4 years, and the second @4% for 10 years. What is the ratio of the first part is to the second part if they yield the same amount of simple interest?
Let the amounts be x and y. We have x × r1 × t1 = y × r2 × t2. We can see that x : y is same as r2t2 : r1t1. The ratio is (4 × 10) : (10 × 4) = 40 : 40, or same as 1. Please note that the answer is independent of the value of the total amount.
The difference between simple interests on an amount @11% for 18 years and at 6% for 16 years is Rs. 816. What is the amount?
An investor puts an amount of Rs. 1600 in a simple interest scheme. If it amounts to Rs. 1696 in 3 years @2%, what would it had amounted to had the rate been 2% more?
The simple interest on a hypothetical investment is Rs. 3430. What is the principal amount if the rate per annum, time in years and the principal, all have the same numerical value?
An investor puts an amount of Rs. 3200 in a simple interest scheme. If the rate of interest is 4%, how long does he have to wait for getting an amount of Rs. 3840?
This Blog Post/Article "Simple Interest Quiz Set 001" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-04-07.