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A Learning Portal from Recruitment India

Shubhranshu deposited Rs 8000 at simple interest which amounted to Rs 9200 after 3 years . Had the interest been 2% more, how much amount she would have got?

A.

B.

Rs 9272

C.

Rs 9680

D.

Rs 1680

Answer with explanation

Answer: Option CExplanation

—-> Amount = simple interest + principal

—-> 9200 = simple interest + 8000

—-> simple interest = 9200 â€“ 8000

—-> = Rs 1200

—-> if r % be the rate of interest ,

—-> Then from, simple interest = ((principal * rate% * time)/100)

—-> 1200 = ((8000 * r * 3)/100)

—-> r = 5%

—-> 2% more interest that is 7% interest

—-> simple interest = ((8000 * 7 * 3)/100)

—-> = Rs 1680

—-> thus amount he will get is Rs 8000 + Rs 1680 = Rs 9680

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A certain sum of money at simple interest amounts to Rs. 1260 in 2 years and to Rs. 1350 in 5 years. The rate percent per annum is?

A.

4.50 %

B.

3.50 %

C.

2.50 %

D.

1.50 %

Answer with explanation

Answer: Option CExplanation

A certain sum of money at simple interest amounts to Rs.1260 in 2 years

The same sum of money at simple interest amounts to Rs.1350 in 5 years

Formula used:

S.I = ( P × N × R)/100

Calculation:

Let the Principal be P

S.I for 3 years = 1350 – 1260 = Rs.90

⇒ S.I for 1 year = 90/3 = Rs.30

⇒ S.I for 2 years = 30 × 2 = Rs.60

∴ Principal, P = 1260 – 60 = Rs.1200

Now,

S.I = ( P × N × R)/100

60 = (1200 × 2 × R)/100

∴ R = (60 × 100)/(1200 × 2) = 2.50%

∴ Rate of interest is 2.50%

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Mr. Thomas invested an amount of 13,900 divided in two different schemes A and B at the simple interest rate of 14% p.a. and 11% p.a. respectively. If the total amount of simple interest earned in 2 years be 3508, what was the amount invested in Scheme B?

A.

7500

B.

6500

C.

6400

D.

7200

Answer with explanation

Answer: Option CExplanation

Explanation: Let the sum invested in Scheme A be x and that in Scheme B be (13900 – x).

Then, (x x 14 x 2)/100 + ((13900 – x) x 11 x 2)/100 = 3508

28x – 22x = 350800 – (13900 x 22)

6x = 45000

x = 7500.

So, sum invested in Scheme B = (13900 – 7500) = 6400.

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The SI on certain sum of money for 23 months at the rate of 7% per annum exceeds the SI on the same sum at 7% per annum for 19 months by Rs. 672. Then find the sum

A.

Rs. 18600

B.

Rs. 16800

C.

Rs. 24400

D.

Rs. 28800

Answer with explanation

Answer: Option DExplanation

Let the sum be P.

—> Then, ((P * 7 * 23)/12 * 100) – ((P * 7 * 19)/ 12 * 100 ) = 672

—> or, 161P â€“ 133P = 672 * 100 * 12

—> P = ((672 * 100 * 12)/28) = Rs. 28800

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A certain total of cash gets to be three times of itself in20 years at basic premium. In how long does it turns out to be twofold of itself at the same rate?

A.

12 years

B.

8 years

C.

10 years

D.

14 years

Answer with explanation

Answer: Option CExplanation

Let the sum be Rs. x. Then, S.I in 20 years = Rs. (3x-x) = Rs.2x Rate = (100*S.I/ R*T) = (100*2x/x*20) % P.a. = 10% P.a. Now, sum = Rs. x, Rate = 10% P.a., S.I = Rs. x. ∴ Time = (100*s.I/ P*R) = (100*x/x*10) years = 10 years.

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At what rate percent per annum will the simple interest on a sum of money be 2/5 of the amount in 10 years

A.

2%

B.

3%

C.

4%

D.

1%

Answer with explanation

Answer: Option CExplanation

Let sum = x

Time = 10 years.

S.I = 2x /5, [as per question]

Rate =( (100 * 2x) / (x*5*10))%

=> Rate = 4%

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Mohan lent some amount of money at 9% simple interest and an equal amount of money at 10% simple interest each for two years. If his total interest was Rs. 760, what amount was lent in each case?

A.

Rs.2000

B.

Rs.1900

C.

Rs.1800

D.

Rs.1700

Answer with explanation

Answer: Option AExplanation

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A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was

A.

Rs. 2000

B.

Rs. 15,000

C.

Rs. 20,000

D.

Rs. 10,000

Answer with explanation

Answer: Option BExplanation

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If the annual rate of simple interest increases from 8% to 13%, a man’s yearly income increases by Rs. 4800. His principal (in Rs.) is?

A.

Rs.90,000

B.

Rs.96,000

C.

Rs.88,000

D.

Rs.1,00,000

Answer with explanation

Answer: Option BExplanation

X*13*1/100 – x*8*1/100 = 4800

13x/100 – 8x/100 = 4800

5x/100 = 4800

5x = 480000

X = 96000

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An automobile financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes?

A.

10%

B.

10.25%

C.

10.5%

D.

None of these

Answer with explanation

Answer: Option BExplanation

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A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum?

A.

Rs. 7000

B.

Rs. 8500

C.

Rs. 8000

D.

Rs. 7500

Answer with explanation

Answer: Option AExplanation

Let the sum be Rs. x.

(x * 18 * 2)/100 – (x * 12 * 2)/100 = 840

36x/100 – 24x/100 =840

12x/100 = 840

x = 7000.

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Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

A.

3.6

B.

6

C.

5

D.

Cannot be determined

Answer with explanation

Answer: Option BExplanation

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The simple interest on a certain sum for 8 months at 4% per annum is Rs. 129 less than the simple interest on the same sum for 15 months at 5% per annum. The sum is?

A.

Rs.2,580

B.

Rs.2400

C.

Rs.2529

D.

Rs.3600

Answer with explanation

Answer: Option DExplanation

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If simple interest on a certain sum of money for 6 years at 5% per annum is same as the simple interest on Rs. 650 for 9 years at the rate of 12% per annum then the sum of money is?

A.

Rs.2340

B.

Rs.3240

C.

Rs.2400

D.

Rs.3500

Answer with explanation

Answer: Option AExplanation

X *6*5/100 = 650*12*9/100

30x/100 = 70,200/100

30x = 70200

X = 2340

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Find the simple interest on Rs 3000 at 25/4% per annum for the period from 4th Feb, 2005 to 18th April, 2005?

A.

Rs 45.70

B.

Rs 34.65

C.

Rs 38.50

D.

Rs 37.50

Answer with explanation

Answer: Option DExplanation

We will not count the day when the money is deposited we will only count the day when the money is withdrawn.

Now we will calculate the number of days:

Time = (24+31+18) days = 73/365 years = 1/5 years

P = 3000

R = 25/4%

Simple Interest =(3000×25)/(4×5×100)=37.50

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A sum of Rs. 2665 is lent into two parts so that the interest on the first part for 8 years at 3% per annum may be equal to the interest on the second part for 3 years at 5% per annum. Find the second sum?

A.

Rs.1678

B.

Rs.1640

C.

Rs.1650

D.

Rs.1630

Answer with explanation

Answer: Option BExplanation

let x is the first part of amount

(x*8*3)/100 = ((2665 – x)*3*5)/100

24x/100 = 39975/100 – 15x/100

39x = 39975

x = 1025

Second sum = 2665 – 1025 = 1640

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A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is?

A.

Rs. 650

B.

Rs. 690

C.

Rs. 698

D.

Rs. 700

Answer with explanation

Answer: Option CExplanation

S.I. for 1 year = Rs. (854 – 815) = Rs. 39.

S.I. for 3 years = Rs.(39 x 3) = Rs. 117.

Principal = Rs. (815 – 117) = Rs. 698.

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A person deposited Rs. 400 for 2 years, Rs. 550 for 4 years and Rs. 1200 for 6 years. He received the total simple interest of Rs. 1020. The rate of interest per annum is (rate of interest in each case is same)

A.

5%

B.

10%

C.

15%

D.

20%

Answer with explanation

Answer: Option BExplanation

Case 1)S.I.=400*2*r/100=8r

Case 2)S.I.=550*4*r/100=22r

Case3)S.I.=1200*6*r/100=72r

Total S.I. =8r+22r+72r=102r

therefore 102r=1020

r=1020/102=10

r=10

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The equal amounts of money are deposited in two banks each at 15% per annum for 3.5 years and 5 years respectively. If the difference between their interests is Rs.144, find the each sum?

A.

Rs.3467

B.

Rs.640

C.

Rs.500

D.

None

Answer with explanation

Answer: Option BExplanation

(P*5*15)/100 – (P*3.5*15)/100 = 144

75P/100 – 52.5P/100 = 144

22.5P = 144 * 100

=> P = Rs.640

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Find the compound interest accrued on the principal of Rs. 4000 at the end of 2 years at 10 % per annum.

A.

820 Rs

B.

830 Rs

C.

840 Rs

D.

810 Rs

Answer with explanation

Answer: Option CExplanation

Principal = Rs. 4000, t= 2 years , rate of percent, r = 10 %

Amount = P(1 + r/100)^t = 4000 x (1 + 10/100)^2 = 4000 x (11/10) x (11/10) = 40 x 121 = 4840 Rs.

Amount = Principal + CI => 4000 + CI = 4840 => CI = 840 Rs.

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