A sum of Rs. 495000 amounts to Rs. 693000 in 4 years at simple interest. The rate is MCQ with Answer and Explanation

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A sum of Rs. 495000 amounts to Rs. 693000 in 4 years at simple interest. The rate is

A. 8%

B. 12%

C. 10%

D. 9%

Answer: Option C

Solution (By JKSSB Mock Tests)

SI = 198000. R = (198000 × 100)/(495000 × 4) = 10%.

This question belongs to: Maths Simple Interest

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Practice More Simple Interest Questions

Question #1

In how many years will Rs. 801000 amount to Rs. 1121400 at 8% simple interest?

A. 6 years

B. 5 years

C. 4 years

D. 7 years

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Correct Answer: Option B

Explanation:
SI = 320400. T = (320400 × 100)/(801000 × 8) = 5 years.

This question belongs to: Maths Simple Interest

Question #2

The principal that gives Rs. 1587600 interest in 8 years at 15% SI is

A. Rs. 1324000

B. Rs. 1323000

C. Rs. 1322000

D. Rs. 1321000

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Correct Answer: Option B

Explanation:
P = (1587600 × 100)/(15 × 8) = 1323000.

This question belongs to: Maths Simple Interest

Question #3

Simple interest on Rs. 693000 for 2 years at 25% per annum is

A. Rs. 346700

B. Rs. 346500

C. Rs. 346900

D. Rs. 346300

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Correct Answer: Option B

Explanation:
SI = (693000 × 25 × 2)/100 = 346500.

This question belongs to: Maths Simple Interest

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