Arithmetic

Simple & Compound Interest

Medium

What is the rate of simple interest for the last 5 years if the sum of ₹ 480 becomes ₹ 792 in 11 years and the rate of interest for the first 6 years is 5%?

✅ Correct Option: 3

Given:

Principal = ₹480
Final amount after 11 years = ₹792
Total time = 11 years (First 6 years at 5%, Last 5 years at unknown rate)

Total Simple Interest = Final Amount - Principal

Total Simple Interest = ₹792 - ₹480

Total Simple Interest = ₹312

For the first 6 years, using Simple Interest formula $SI = \frac{P \times R \times T}{100}$ :

$SI_1 = \frac{480 \times 5 \times 6}{100}$

$SI_1 = \frac{14400}{100}$

$SI_1 = ₹144$

Interest for last 5 years = Total Interest - Interest for first 6 years

$SI_2 = ₹312 - ₹144$

$SI_2 = ₹168$

For the last 5 years:

Interest = ₹168
Principal = ₹480
Time = 5 years

Using $SI = \frac{P \times R \times T}{100}$ :

$168 = \frac{480 \times R \times 5}{100}$

$168 = \frac{2400 \times R}{100}$

$168 = 24R$

$R = \frac{168}{24}$

$R = 7\%$

Therefore, the rate of interest for the last 5 years is 7%.

2026: 22 May Shift 2

Consider the following statements:

If a sum of money is lent at simple interest, then

(A) money gets doubled in 5 years if the rate of interest is $16\frac{2}{3}\%$ .

(B) money gets doubled in 5 years if the rate of interest is 20%.

of these statements,

Choose the correct answer from the options given below:

2022: 20 Aug Shift 1

The simple interest of an amount is $\frac{16}{25}$ of the principal. Find the rate % PA, if the time and rate both are numerically equal.

2022: 26 Aug Shift 1

The simple interest on a sum of money at 12% per annual for 8 years is half of the sum. The sum is______.

2026: 21 May Shift 2

A bank lends money at 12% per annum on simple interest. A customer borrows ₹ 50,000 for 9 months and repays after receiving a 5% rebate on total interest amount. What effective annual interest rate did he pay?

2026: 30 May Shift 2

Consider the simple interest of the following

(A) A sum of Rs 200 at 6% per annum for 5 yr.

(B) A sum of Rs 2000 at $13\frac{1}{2}$ % per annum for 4 yr.

(D) A sum of Rs 68000 at $16\frac{2}{3}$ % per annum for 9 months.

Arrange the above in descending order.

Choose the correct answer from the options given below:

2025: 3 June Shift 2

Consider the compound interest of the following

(A) The compound interest on Rs 30500 at 15% per annum for 2 years, (compounded annually) is: Rs. 9836.25

(B) The compound interest of Rs 5000 at 20% per annum for one year is compounded (half-yearly) is: Rs. 6050.

Which of the following statements is / are correct?

What is the rate of simple interest for the last 5 years if the sum of ₹ 480 becomes ₹ 792 in 11 years and the rate of interest for the first 6 years is 5%?

Solution

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