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### Question 1

Simple interest on a certain sum of money is $1/5$ of the sum for 5 years. What is the rate of interest?

### Question 2

A sum of Rs. 23650 is divided into three parts such that simple interest on these parts at 10% p.a. after 4, 7 and 17 years, respectively, is same. What is the amount of the smallest part?

**A**

Rs. 3080.

**B**

Rs. 3180.

**C**

Rs. 2980.

**D**

Rs. 3280.

**Soln.**

**Ans: a**

We should use the shortcut technique here. If r_{1}, t_{1}, r_{2}, t_{2} and r_{3}, t_{3} be the rates and times for three parts with same interest amount, then the three parts must be in the ratio $1/{r_1 t_1} : 1/{r_2 t_2} : 1/{r_3 t_3}$. In our case r_{1} = r_{2} = r_{3} = 10, which cancels, so the ratio is $1/t_1 : 1/t_2 : 1/t_3$. The product of denominators is 4 × 7 × 17 = 476. Thus, the three parts are in the ratio $119 : 68 : 28$. The parts are: 23650 × $28/{119 + 68 + 28}$, 23650 × $68/{119 + 68 + 28}$ and 23650 × $119/{119 + 68 + 28}$, which are 13090, 7480 and 3080. The smaller is Rs. 3080.

### Question 3

An investor puts an amount of Rs. 900 in a simple interest scheme. If the rate of interest is 5% per month, how long does he have to wait for getting an amount of Rs. 1035?

### Question 4

Mr. X borrowed Rs. 1800 from Mr. Y on simple interest @6% for 13 years. He then adds an amount x to it and lends it to Mr. Z @13% for the same duration. What is x if he gains Rs. 2483?

### Question 5

The interest on Rs. 6000 @6% for a certain number of days starting from Jan 1, 1801 is Rs. 72. How many days?

This Blog Post/Article "Simple Interest Quiz Set 015" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Updated on 2017-05-17.