- « Previous Page
- 1
- 2
- 3
- 4
- …
- 6
- Next Page »

A Learning Portal from Recruitment India

Home » Aptitude » Simple Interest » Page 2

What principal will amount to Rs? 16000 in 6 years at 10% simple interest?

A.

B.

C.

D.

Answer with explanation

Answer: Option AExplanation

Let the principal be Rs. p,

Rate of interest is 10% and

time = 6 years.

Amount received at the end of 6 years = 16000 Rs.

**Amount = Principal + S.I
= p + (p * n * r)/100**

—> 16000 = p + (p x 10 x 6) / 100

—> 16000 = p + (6p/10)

—> 16000 = 16p/10

—> p = 16000 x (10/16)

—> p = 1000 x 10

—> p = 10,000 Rs.

Workspace

When my father started working, he deposited some amount at simple interest in the bank. After 15 years the amount became 7 times. If the rate of interest remains, in how many more years will the amount become 10 times?

A.

3 years

B.

5 years

C.

7 years

D.

7.5 years

Answer with explanation

Answer: Option DExplanation

Workspace

A sum of money at a certain rate per annum of simple interest doubles in the 5 yr and at a different rate becomes three times in 12 yr. The lower rate of interest per annum is

A.

15%

B.

20%

C.

D.

Answer with explanation

Answer: Option DExplanation

The sum gets doubled in 5 yr and triplled in 12 yr.

So from the given data, its clear that rate of interest for 12 yr is lower.

Let principal be x.

WKT, SI = PNR/100, SI = 2x

R = (SI*100)/PN

= (2x * 100)/(x * 12)

= 50/3 = 16(2/3)%

Therefore, lower rate of interest per annum is 16(2/3)%.

Workspace

A.

Rs 6500

B.

Rs 6400

C.

Rs 7200

D.

Rs 7500

Answer with explanation

Answer: Option BExplanation

Let the sum invested in Scheme A be Rs. x and that in Scheme B be Rs. (13900 ⎯ x)

Then, [x × 14 × 2 / 100 ] + [(13,900 – x) × 11 × 2 / 100] = Rs.3508

28x ⎯ 22x = 350800 ⎯ (13900 × 22 )

6x = 45000

x = 7500

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

Workspace

A.

9%

B.

11%

C.

15%

D.

10%

Answer with explanation

Answer: Option DExplanation

Workspace

If the amount is 2.25 times of the sum after 2 years at compound interest (compound annually) , the rate of interest per annum is :

A.

25%

B.

30%

C.

40%

D.

50%

Answer with explanation

Answer: Option DExplanation

Using the formula we have derived in the article for this exercise:

**If a certain sum becomes x times of itself in t years, the rate of compound interest will be equal to**

Workspace

A certain sum becomes Rs. 20720 in four years and 24080 in six years at simple interest. Find sum and rate of interest?

A.

Rs. 14000; 12% p.a.

B.

Rs. 12000; 12% p.a.

C.

12000; 15% p.a.

D.

Rs. 14000; 15% p.a.

Answer with explanation

Answer: Option AExplanation

Let the interest for one year be x.

As amount = Principal + Interest, we have

P + 4x = 20720 — (1) ; P + 6x = 24080 — (2)

Solving the equations (1) and (2), we can get

P = Rs. 14000 and x = Rs. 1680

Interest for one year on Rs. 14000 is Rs. 1680

So, R = (100 * 1680)/(14000 * 1) = 12% p.a.

Workspace

Rs.1500 is divided into two parts such that if one part is invested at 6% and the other at 5% the whole annual interest from both the sum is Rs.85. How much was lent at 5%?

A.

Rs 550

B.

Rs 600

C.

Rs 500

D.

Rs 450

Answer with explanation

Answer: Option CExplanation

(x*5*1)/100 + [(1500 – x)*6*1]/100 = 85

5x/100 + 90 – 6x/100 = 85

x/100 = 5

=> x = 500

Workspace

Raymond bought a car for $40, 000. He took a $20,000 loan from a bank at an interest rate of 15% per year for a 3-year period. What is the total amount (interest and loan) that he would have to pay the bank at the end of 3 years?

A.

$27,800

B.

$27,856

C.

$27563

D.

$25896

Answer with explanation

Answer: Option AExplanation

Simple Interest = 20,000 × 13% × 3 = 7,800

At the end of 3 years, he would have to pay

$20,000 + $7,800 = $27,800

Workspace

A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6% p.a for 2 years. Find his gain in the transaction per year.

A.

Rs. 112.50

B.

Rs 100

C.

Rs 120.6

D.

Rs 160

Answer with explanation

Answer: Option AExplanation

Workspace

A certain amount becomes Rs. 5760 in 2 years and Rs. 6912 in 3 years. What is the principal amount and the rate of interest?

A.

Rs 3999

B.

Rs 4000

C.

Rs 4012

D.

Rs 4123

Answer with explanation

Answer: Option BExplanation

SI on Rs. 5760 for 1 year = 6912 – 5760 = Rs. 1152

Therefore, Rate of interest for 1 year = 100*1152/5760*1 = 20%

Let the principal be p.

Then, Principal = p[1+ 20/100]^{2 }= 5760

Solving which gives Principal = Rs. 4000

Workspace

- « Previous Page
- 1
- 2
- 3
- 4
- …
- 6
- Next Page »

Correct Answer 👍

Wrong Answer 👎

RecruitmentIndia.in is Blog where we will update the information by exploring various online and offline sources of information. Our aim is to provide the latest Education related news as fast as possible to the students for free of cost.

Exams.Recruitmentindia.in is a Preparation portal where you can prepare all the competitive related questions like Aptitude, Reasoning, English Questions and Current affairs for free of cost

You can Contact us at :