Simple & Compound Interest Level-1 Quiz-3

1. The SI on a sum of money is 25% of the principal, and the rate per annum is equal to the number of years. Find the rate percent.

2. The rate of interest for first 3 years is 6% per annum, for the next 4 years, 7 per cent per annum and for the period beyond 7 years, 7.5 percentages per annum. If a man lent out Rs. 1200 for 11 years, fi nd the total interest earned by him?

3. If CI is charged on a certain sum for 2 years at 10% the amount becomes 605. Find the principal?

4. The population of Jhumri Tilaiya increases by 10% in the first year, it increases by 20% in the second year and due to mass exodus, it decreases by 5% in the third year. What will be its population after 3 years, if today it is 10,000?

5. Seth Ankoosh Gawdekar borrows a sum of Rs. 1200 at the beginning of a year. After 4 months, Rs. 1800 more is borrowed at a rate of interest double the previous one. At the end of the year, the sum of interest on both the loans is Rs. 216. What is the first rate of interest per annum?

6. What is the amount of equal instalment, if a sum of Rs. 1428 due 2 years hence has to be completely repaid in 2 equal annual instalments starting next year.

7. A sum of Rs. 600 amounts to Rs. 720 in 4 years at simple interest. What will it amount to if the rate of interest is increased by 2%?

8. Three persons Amar, Akbar and Anthony invested different amounts in a fixed deposit scheme for one year at the rate of 12% per annum and earned a total interest of Rs. 3,240 at the end of the year. If the amount invested by Akbar is Rs. 5000 more than the amount invested by Amar and the amount invested by Anthony is Rs. 2000 more than the amount invested by Akbar, what is the amount invested by Akbar?

9. If a certain sum of money becomes double at simple interest in 12 years, what would be the rate of interest per annum?

10. If the difference between compound and simple interest on a certain sum of money for 3 years at 2% p.a. is Rs. 604, what is the sum?