Practice Simple Interest Practice Questions with Detailed Solutions – Level 3

₹ 14,000 is divided into two parts. The amount on the first part after 4 years and the amount on the second part after 6 years are equal, both at 8% per annum simple interest. What is the second part?

Simple interest is charged on a loan at 6% per annum for the first 3 years, at 8% per annum for the next 4 years and at 10% per annum for any period beyond 7 years. If the total interest paid at the end of 10 years is ₹ 13,920, what was the loan amount?

At simple interest, a sum becomes \( \frac{7}{4} \) of itself in 6 years. If the rate of interest is increased to 1.5 times the original rate, in how many years will the sum become 2.5 times itself?

Kavita has to clear a debt of ₹ 16,800 that falls due at the end of 5 years. What equal annual instalment, paid at the end of each year, will discharge the debt if simple interest is charged at 6% per annum?

The simple interest on a sum for 4 years at 7.5% per annum exceeds the simple interest on the same sum for 3 years at 8.5% per annum by ₹ 810. What is the sum?

The difference between the compound interest (compounded annually) and the simple interest on a sum for 2 years at 12% per annum is ₹ 216. What is the simple interest on the same sum for 3 years at the same rate?

A lender gives a loan of ₹ 10,000 for 1 year at 12% per annum simple interest but deducts the interest at the time of giving the loan. What is the effective rate of interest paid by the borrower?

Rohan invested ₹ 25,000, partly at 6% and the rest at 10% per annum simple interest, and earned a total annual interest of ₹ 2,060. If the two rates had been interchanged, what would his annual interest have been?

If the rate of simple interest on a sum were 3% per annum higher, the interest for 5 years would increase by ₹ 1,350. If the simple interest for 5 years at the original rate is ₹ 3,600, what is the original rate?

₹ 8,620 is divided into three parts such that the amounts on them after 1, 2 and 3 years respectively are equal, simple interest being charged at 10% per annum. What is the smallest part?