Exams › IBPS PO › General Awareness

A sum P invested for 4 years at 15% p.a. simple interest amounts to ₹26,240. What will be the interest earned when \((P + 1600)\) is invested at the same rate for 4 years?

1. ₹10000
2. ₹10800
3. ₹9850
4. ₹12800

Correct answer: ₹10800

Solution

The amount after 4 years at 15% simple interest is given, so first find the principal. Then increase the principal by ₹1600 and calculate the new simple interest for 4 years at the same rate. The resulting interest is ₹10,800.

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?
• 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?
• 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

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