Quick Method for solving Simple Interest Questions - Type 3

Ashish

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Staff member
#1
1. What sum of money will amount to Rs 520 in 5 years and to Rs 568 in 7 years at Simple Interest?
a) Rs 400
b) Rs 120
c) Rs 510
d) Rs 220



Answer: Rs 400

2) A sum of money at some rate of simple interest amounts to Rs 2900 in 8 years and to Rs 3000 in 10 years. The rate of interest per annum is:

a) 4%
b) 2 1/2%
c) 3%
d) 2%


Answer: 2%

3) A certain sum of money lent out at simple interest amounts to Rs 1380 in 3 years and Rs 1500 in 5 years. Find the rate per cent, per annum.
a) 3
b) 3.5
c) 4
d) 5



Answer: 5