Exams › IBPS PO › General Awareness

A sum of money is invested at simple interest at 1.5% p.a. for 8 years and yields interest of ₹3000. What will be the simple interest on the same sum at 5% for 6 years?

1. 8000
2. 7500
3. 9500
4. 6000

Correct answer: 7500

Solution

Using \(SI = \frac{PRT}{100}\), the principal is \(3000 \times 100 /(1.5 \times 8) = 25000\). Then the required interest is \(25000 \times 5 \times 6 /100 = 7500\).

Related IBPS PO General Awareness questions

• Ajay has invested ₹25,000 at 10% per annum simple interest for 3 years, and Vijay has invested ₹20,000 at 12% per annum simple interest for the same time. Find the difference between their interests earned.
• The interest on a certain deposit at 9% per annum is ₹405 in one year. How much additional interest will be earned in one year on the same deposit at 10% per annum?
• Tanya and Tashu invested in a scheme offering simple interest at the rates of 12% and 15% per annum for 4 years and 3 years respectively. If Tanya's investment is ₹300 less than Tashu's, find the amount invested by Tashu, given that the interest received by both is equal.
• The simple interest on ₹P at 15% p.a. for 2 years is ₹300 more than the simple interest on ₹(P + 500) at 12% for 2 years. What is the interest if (2P + 500) is lent for 2 years at 12% simple interest rate?
• Arun invested a certain sum of money at a rate of interest of 9% per annum. If the ratio of the amount to interest is 216:91, then which of the following rate-time combinations is correct? I: 10%, 2 years II: 20%, 3 years III: 25%, 3 years
• A person invested an amount of ₹2000 partly in a 6% simple interest scheme and the remaining amount in a 7% simple interest scheme. If the total interest obtained after one year is ₹125, find the amount invested in the 6% simple interest scheme.

⚔️ Practice IBPS PO General Awareness free + battle 1v1 →