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What will the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years.

A.

1 : 2

B.

2 : 1

C.

2 : 2

D.

2 : 3

Answer with explanation

Answer: Option DExplanation

We know that,

SI = Pnr/100

Let the principal be P and rate of interest be R

SI = [P*6*R/100] / [P*9*R/100]

SI = 6/9 = 2/3

SI = 2 : 3

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A.

30.6%

B.

20.6%

C.

5.6%

D.

none of these

Answer with explanation

Answer: Option DExplanation

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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.

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A certain amount becomes Rs 3000 at a simple interest of 12%. Keeping the time period same, if the rate of simple interest is increased by 3%, the amount will become 300 Rs/- more than in the previous setting. What is the amount? Also find the time period.

A.

Rs. 1500 and 7 years

B.

Rs. 1800 and 5.5 years

C.

Rs. 1900 and 8.25 years

D.

Rs. 2000 and 20 years

Answer with explanation

Answer: Option BExplanation

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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

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A lent Rs. 5000 to B for 2 years and Rs 3000 to C for 4 years on simple interest at the same rate of interest and received Rs 2200 in all from both of them as interest. The rate of interest per annum is

A.

9%

B.

11%

C.

15%

D.

10%

Answer with explanation

Answer: Option DExplanation

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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**

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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.

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