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Rs.1000 is invested at 5 % p.a simple interest if the interest is added to the principle after every 10 years. The amount will become Rs. 2000 After

A.

15 years

B.

16 2/3 years

C.

18 years

D.

20 Years

Answer with explanation

Answer: Option BExplanation

S. I for 10 Years = Rs (1000 × 5/100 × 10) = Rs 500

Principle after 10 Years becomes = Rs (1000 + 500)

= Rs 1500

S. I on it = Rs (2000 – 1500) = Rs 500

Time = (50000/7500) Years = 6 2/3 Years

Total Time = (10 + 6 2/3) Years = 16 2/3 Years

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Rs.2000 amount to Rs. 2600 in 5 years at simple interest if the interest rate were increased by 3 %. It would amount to how much?

A.

Rs.2900

B.

Rs.3200

C.

Rs.3600

D.

None of these

Answer with explanation

Answer: Option AExplanation

Sum = Rs 2000, S. I = Rs 600, Time = 5 Years

Therefore,

Rate =

Now sum = Rs 2000, Rate = 9 % p.a, Time = 5 Years

Amount = Rs (2000 + 900) = Rs 2900

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In how many years a sum will be thrice of it at the rate of 10% per annum?

A.

15 years

B.

20 Years

C.

30 years

D.

40 years

Answer with explanation

Answer: Option BExplanation

Let the sum be Rs. x .

Then S.I = Rs (3x – x) = Rs 2x x × 10/100 × t = 2x

=> t = 20 Years

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A borrows Rs.800 at the rate of 12 % per annum. Simple interest and B borrows Rs.910 at the rate of 10 % per annum simple interest. In how many years will their amounts at debts be equal?

A.

18 years

B.

20years

C.

22 years

D.

24 years

Answer with explanation

Answer: Option CExplanation

Let the required time be x years.

Then 800 + 800 x 12/100 × x = 910 + 910 x 10/100 × x

=> (96x -91 x) = 110

=> 5x =110

=> x =22

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A man deposited Rs. 400 for 2 years. Rs.550 for 4 years and Rs.1200 for 6 years. He received Rs.1020 as the total simple interest. The rate of interest per annum is?

A.

8 %

B.

10 %

C.

15 %

D.

20 %

Answer with explanation

Answer: Option BExplanation

Let the rate of interest be R % p.a. Then

=> 800 R + 2200 R + 7200 R = 102000

=> 10200 R = 10200

=> R = 10

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The simple interest on a sum of money will be Rs. 600 after 10 years. If the principal is trabled after 5 years which will be the total interest at the end of the tenth year?

A.

Rs. 600

B.

Rs. 900

C.

Rs. 1200

D.

data inadequate

Answer with explanation

Answer: Option CExplanation

Sum = Rs.x.

S.I = Rs. 600

Time = 10 years

Rate =

= (6000/x)% per annum.

S.I on Rs. X for 1^{st} five years

= Rs. (x X 6000/x X 5 X 1/100) = Rs. 900

Total interest = Rs. (300+900) = Rs. 1200

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Rs. 800 amounts to Rs. 920 in 3 years at simple interest if the interest rate is increased by 3 %, it would amount to how much?

A.

Rs. 1056 Rs. 1112

B.

Rs. 1112

C.

Rs. 1182

D.

Rs. 992

Answer with explanation

Answer: Option DExplanation

Principal = Rs. 800

S.I = Rs (920-800) = Rs.120 and Time = 3 years

Original rate = = 5 %

New Rate = 8 %

S.I = Rs. = Rs. 192.

Amount = Rs. 992

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A.

Rs. 5000

B.

Rs. 6500

C.

Rs. 8000

D.

Cannot be determined

Answer with explanation

Answer: Option AExplanation

Let x, y and z be the amount invested in schemes A, B and C respectively. Then,

(x * 10 * 1)/100 + (y * 12 * 1)/100 + (z * 15 * 1)/100 = 3200

10x + 12y + 15z = 320000

Now, z = 240% of y = 12/5 y

And, z = 150% of x = 3/2 x

x = 2/3 z = ( 2/3 * 12/5) y = 8/5 y

16y + 12y + 36y = 320000

y = 5000

Sum invested in scheme B = Rs. 5000.

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The difference between the simple interest received from two different sources on Rs. 1500 for 3 years is Rs. 13.50. The difference between their rates of interest is?

A.

0.1%

B.

0.2%

C.

0.3%

D.

0.4%

Answer with explanation

Answer: Option CExplanation

(1500 * R_{1} * 3)/100 – (1500 * R_{2} * 3)/100 = 13.50 4500(R_{1} – R_{2}) = 1350

R_{1} – R_{2} = 0.3%

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A lends Rs. 2500 to B and a certain to C at the same time at 7% p.a. simple interest. If after 4 years, A altogether receives Rs. 1120 as interest from B and C, then the sum lent to C is?

A.

Rs. 700

B.

Rs. 1500

C.

Rs. 4000

D.

Rs. 6500

Answer with explanation

Answer: Option BExplanation

Let the sum lent to C be Rs. x. Then,

(2500 * 7 * 4) / 100 + (x * 7 * 4) / 100 = 1120

7/25 x = (1120 – 700) => x = 1500

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A sum of money lent out at S.I. amounts to Rs. 720 after 2 years and to Rs. 1020 after a further period of 5 years. The sum is?

A.

Rs. 500

B.

Rs. 600

C.

Rs. 700

D.

Rs. 710

Answer with explanation

Answer: Option BExplanation

S.I for 5 years = (1020 – 720) = Rs. 300.

S.I. for 2 years = 300/5 * 2 = Rs. 120.

Principal = (720 – 120) = Rs. 600.

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Rs. 800 becomes Rs. 956 in 3 years at a rate of S.I. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years?

A.

Rs. 1020.80

B.

Rs. 1025

C.

Rs. 1052

D.

Rs. 1052

Answer with explanation

Answer: Option DExplanation

S.I. = (956 – 800) = Rs. 156.

Rate = (100 * 156) / (800 * 3) = 6 1/2 %

Now rate = (6 1/2 + 4) = 10 1/2 %

New S.I. = (800 * 21/2 * 3/100) = Rs. 252

New amount = (800 + 252) = Rs. 1052.

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A man took loan from a bank at the rate of 12% p.a. S.I. 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. 10000

C.

Rs. 15000

D.

Rs. 20000

Answer with explanation

Answer: Option CExplanation

Principal = (100 * 5400) / (12 * 3) = Rs. 15000

Workspace

A.

Rs.3,870

B.

Rs.5,355

C.

Rs.3,855

D.

Rs.3600

Answer with explanation

Answer: Option BExplanation

Let the sum lent by Manoj to Ramu be Rs.P.

Amount gained by Manoj = P. 3.9 /100 = 3450.3.6/100 = Rs.824.85

27P = 62100 = 82485

P = (82485 + 62100)/27 = 3055 + 2300 = Rs.5355

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