Simple Interest Practice Test – Set 2

CONCEPT USED
Simple Interest: SI = (P $\times R \times T) / 100$, where P is the principal, R is the annual rate (%) and T is time in years.

STEP-BY-STEP SOLUTION

Let Principal = P. Maturity Amount = 4P

CONCEPT USED
Simple Interest: SI = (P $\times R \times T) / 100$, where P is the principal, R is the annual rate (%) and T is time in years.

STEP-BY-STEP SOLUTION

$Amount A = (17/10)P$

CONCEPT USED
Simple Interest: SI = (P $\times R \times T) / 100$, where P is the principal, R is the annual rate (%) and T is time in years.

STEP-BY-STEP SOLUTION

(7000 * R * 2) / 100 = (5000 * 5 * 14) / 100

$14000 R = 350000$

CONCEPT USED
Simple Interest: SI = (P $\times R \times T) / 100$, where P is the principal, R is the annual rate (%) and T is time in years.

STEP-BY-STEP SOLUTION

Interest 1 = x * 8 * 5 / 100 = 40x / 100. Interest 2 = y * 7.5 * 6 / 100 = 45y / 100. Given 40x = 45y

CONCEPT USED
Simple Interest: SI = (P $\times R \times T) / 100$, where P is the principal, R is the annual rate (%) and T is time in years.

STEP-BY-STEP SOLUTION