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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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