1) Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if the amount being Rs.1120?
A. Rs.1000B. Rs.1100C. Rs.1050D. Rs.1200
Answer: Option A
Explanation:
1120 = P [1 + (5*12/5)/100]
P= 1000
2) At what rate percent on simple interest will Rs.750 amount to Rs.900 in 5 years?
A. 5%B. 3 1/2%C. 4%D. 5 1/2 %
Answer: Option C
Explanation:
150 = (750*5*R)/100
R = 4%
3)Find the simple interest on Rs.500 for 9 months at 6 paisa per month?
A. Rs.345B. Rs.270C. Rs.275D. Rs.324
Answer: Option B
Explanation:
I = (500*9*6)/100 = 270
4)At what rate percent on simple interest will a sum of money double itself in 30 years?
A. 3 1/3 %B. 3 1/2%C. 4 %D. 4 1/2 %
Answer: Option A
Explanation:
P = (P*30*R)/100
R = 3 1/3%
5) A certain sum of money at simple interest amounted Rs.840 in 10 years at 3% per annum, find the sum?
A. Rs.500B. Rs.515C. Rs.525D. None
Answer: Option D
Explanation:
840 = P [1 + (10*3)/100]
P = 646
6)The simple interest on a sum of money will be Rs.600 after 10 years. If the principal is trebled after 5 years what will be the total interest at the end of the tenth year?
A. Rs.800B. Rs.900C. Rs.1200D. Rs.1500
Answer: Option C
Explanation:
P --- 10 ---- 600
P --- 5 ----- 300
3P --- 5 ----- 900
-------
=> 1200
7) If x is the interest on y and y is the interest on z, the rate and time is the same on both the cases. What is the relation between x, y and z?
A. xyz = 1B. X2 = yzC. Y2 = xzD. Z2 = xy
Answer: Option C
Explanation:
X = (Y*NR)/100 Y = (Z*NR)/100
X/Y = NR/100 Y/Z = NR/100
X/Y = Y/Z
Y2 = XZ
8)Rs.2500 is divided into two parts such that if one part be put out at 5% simple interest and the other at 6%, the yearly annual income may be Rs.140. How much was lent at 5%?
A. Rs.1500B. Rs.1300C. Rs.1200D. Rs.1000
Answer: Option D
Explanation:
(x*5*1)/100 + [(2500 - x)*6*1]/100 = 140
X = 1000
9) 4000 was divided into two parts such a way that when first part was invested at 3% and the second at 5%, the whole annual interest from both the investments is Rs.144, how much was put at 3%?
A. Rs.2500B. Rs.2700C. Rs.2800D. Rs.5000
Explanation:
(x*3*1)/100 + [(4000 - x)*5*1]/100 = 144
3x/100 + 200 – 5x/100 = 144
2x/100 = 56 => x = 2800
10) If Re.1 amounts to Rs.9 over a period of 20 years. What is the rate of simple interest?
A. 26 2/3 %B. 30 %C. 27 1/2%D. 40 %
Answer: Option D
Explanation:
8 = (1*20*R)/100
R = 40%
11)If rupee one produces rupees nine over a period of 40 years, find the rate of simple interest?
A. 20 %B. 10 %C. 15 %D. 22 1/2%
Answer: Option D
Explanation:
9 = (1*40*R)/100
R = 22 1/2 %
12) 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.1000B. Rs.750C. Rs.600D. Rs.500
Answer: Option D
Explanation:
(x*5*1)/100 + [(1500 - x)*6*1]/100 = 85
5x/100 + 90 – 6x/100 = 85
x/100 = 5
=> x = 500
13)In what time will Rs.4000 lent at 3% per annum on simple interest earn as much interest as Rs.5000 will earn in 5 years at 4% per annum on simple interest?
A. 8 1/3 yearsB. 9 yearsC. 7 1/2 yearsD. 7 1/3 years
Answer: Option A
Explanation:
(4000*3*R)/100 = (5000*5*4)/100
R = 8 1/3
14)In how many years will a sum of money doubles itself at 5% per annum on simple interest?
A. 22 yearsB. 20 yearsC. 21 yearsD. 29 years
Answer: Option B
Explanation:
P = (P*5*R)/100
R = 20%
15) A part of certain sum of money is invested at 9% per annum and the rest at 12% per annum, if the interest earned in each case for the same period is equal, then ratio of the sums invested is?
A. 2:3B. 3:4C. 4:3D. None
Answer: Option C
Explanation:
12:9
= 4:3
16) 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.3467B. Rs.640C. Rs.500D. None
Answer: Option B
Explanation:
(P*5*15)/100 - (P*3.5*15)/100 = 144
75P/100 – 52.5P/100 = 144
22.5P = 144 * 100
=> P = Rs.640
17)If A lends Rs.3500 to B at 10% per annum and B lends the same sum to C at 11.5% per annum then the gain of B in a period of 3 years is?
A. Rs.107.50B. Rs.115.50C. Rs.157.50D. Rs.177.50
Answer: Option C
Explanation:
(3500*1.5*3)/100 => 157.50
18) If Rs.450 amount to Rs.540 in 4 years, what will it amount to in 6 years at the same rate % per annum?
A. Rs.575B. Rs.675C. Rs.585D. Rs.685
Answer: Option C
Explanation:
90 = (450*4*R)/100
R = 5%
I = (450*6*5)/100 = 135
450 + 135 = 585
19)Rs.800 amounts to Rs.920 in 3 years at simple interest. If the interest is increased by 3%, it would amount to how much?
A. Rs.1056B. Rs.1112C. Rs.1182D. Rs.992
Answer: Option D
Explanation:
(800*3*3)/100 = 72
920 + 72 = 992
20) What amount does Kiran get if he invests Rs. 18000 at 15% p.a. simple interest for four years?
A. Rs. 24800B. Rs. 28400C. Rs. 24400D. Rs. 28800E. None of these
Answer: Option D
Explanation:
Simple interest = (18000 * 4 * 15)/100 = Rs. 10800
Amount = P + I = 18000 + 10800 = Rs. 28800
21) How much interest can a person get on Rs. 8200 at 17.5% p.a. simple interest for a period of two years and six months?
A. Rs. 3770B. Rs. 2850.50C. Rs. 3587.50D. Rs. 3750E. None of these
Answer: Option C
Explanation:
I = (8200 * 2.5 * 17.5)/100 = (8200 * 5 * 35)/(100 * 2 * 2)
= Rs. 3587.50
22) 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. 12000; 12% p.a.B. Rs. 14000; 12% p.a.C. Rs. 12000; 15% p.a.D. Rs. 14000; 15% p.a.E. None of these
Answer: Option B
Explanation:
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.
23) 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. 7000B. Rs. 8500C. Rs. 8000D. Rs. 7500E. None of these
Answer: Option A
Explanation:
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.
24) A certain sum becomes four times itself at simple interest in eight years. In how many years does it become ten times itself?
A. 21B. 25C. 23D. 27E. None of these
Answer: Option E
Explanation:
Let the sum be Rs. x, then it becomes Rs. 4x in eight years Rs. 3x is the interest on x for eight years.
R = (100 * 3x)/(x * 8) = 300/8 %
If the sum becomes ten times itself, then interest is 9x.
The required time period = (100 * 9x)/(x * 300/8)
= (100 * 9x * 8)/(x * 300) = 24 years.
25)Vijay lent out an amount Rs. 10000 into two parts, one at 8% p.a. and the remaining at 10% p.a. both on simple interest. At the end of the year he received Rs. 890 as total interest. What was the amount he lent out at 8% pa.a?
A. Rs. 6000B. Rs. 5500C. Rs. 4500D. Rs. 5000E. None of these
Answer: Option B
Explanation:
Let the amount lent out at 8% p.a. be Rs. A
=> (A * 8)/100 + [(10000 - A) * 10]/100 = 890
=> A = Rs. 5500.
26) Anil invested a sum of money at a certain rate of simple interest for a period of five years. Had he invested the sum for a period of eight years for the same rate, the total intrest earned by him would have been sixty percent more than the earlier interest amount. Find the rate of interest p.a.
A. 6%B. 9%C. 12.5%D. Cannot be determinedE. None of these
Answer: Option D
Explanation:
Let the sum be Rs.P. Let the rate of interest be R% p.a.
(P)(8)(R)/100 = [1 + 6/100][ (P)(5)(R) /100] = 1.6{5PR/100]
8PR/100 = 8PR/100 which is anyway true.
R cannot be found.
27)A certain sum of money is invested for one year at a certain rate of simple interest. If the rate of interest is 3% higher, then the invest earned will be 25% more than the interest earned earlier. What is the earlier rate of interest?
A. 4% p.a.B. 6% p.a.C. 8% p.a.D. 12% p.a.E. None of these
Answer: Option D
Explanation:
If the interest earned is 25% more than the earlier interest then the rate of interest also should be 25% higher than the earlier rate.
Let the earlier rate of interest be x%.
Now it will be (x + 3)%
% increase = (x + 3) - x/x * 100 = 25
=> x = 12
28) Rs.4500 amounts to Rs.5544 in two years at compound interest, compounded annually. If the rate of the interest for the first year is 12%, find the rate of interest for the second year?
A. 10%B. 12%C. 15%D. 20%E. None of these
Answer: Option A
Explanation:
Let the rate of interest during the second year be R%. Given,
4500 * {(100 + 12)/100} * {(100 + R)/100} = 5544
R = 10%
29)How much time will take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A. 3.5 yearsB. 4 yearsC. 4.5 yearsD. 5 years
Answer: Option B
Explanation:
Time = (100 * 81) / (450 * 4.5) = 4 years
30)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. 3.6B. 6C. 18D. Cannot be determinedE. None of these
Answer: Option B
Explanation:
Let rate = R% and time = R years.
Then, (1200 * R * R) / 100 = 432
12R2 = 432
R2 = 36 => R = 6.
31) What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum?
A. Rs. 112B. Rs. 118.80C. Rs. 120D. Rs. 122
Answer: Option C
Explanation:
Let the present worth be Rs. x. Then,
S.I. = (132 - x)
(x * 5 * 2) / 100 = (132 - x)
10x = 13200 - 100x
110x = 13200 => x = 120.
32)A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9% p.a. in 5 years. What is the sum?
A. Rs. 4462.50B. Rs. 8032.50C. Rs. 8900D. Rs. 8925
Answer: Option D
Explanation:
Principal = (100 * 4016.25) / (9 * 5) = Rs. 8925.
33)A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
A. Rs. 35B. Rs. 245C. Rs. 350D. Cannot be determined
Answer: Option D
Explanation:
We need to know the S.I., principal and time to find the rate. Since the principal is not given, so data is inadequate.
34) What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
A. 1:3B. 1:4C. 2:3D. Data inadequate
Answer: Option C
Explanation:
Let the principal be P and rate of interest be R%.
Required ratio = [(P * R * 6)/100] / [(P * R * 9)/100]
= 6PR/9PR = 6/9
= 2:3
35) Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, how much money did he borrow?
A. Rs. 8000B. Rs. 10000C. Rs. 12000D. Data inadequate
Answer: Option A
Explanation:
Let the sum be Rs. x. Then,
[(x * 6 * 3)/100] + [(x * 9 * 5)/100] + [(x * 13 * 3)/100] = 8160
18x + 45x + 39x = (8160 * 100)
102x = 816000 => x = 8000.
36)An automobile financier claims to be lending money at S.I., 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: Option B
Explanation:
Let the sum be Rs. 100. Then,
S.I. for first 6 months = (100 * 10 *1) / (100 * 2) = Rs. 5
S.I. for last 6 months = (105 * 10 * 1) / (100 * 2) = Rs. 5.25
So, amount at the end of 1 year = (100 + 5 + 5.25) = Rs. 110.25
Effective rate = (110.25 - 100) = 10.25%.
37)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. 500B. Rs. 600C. Rs. 700D. Rs. 710
Answer: Option B
Explanation:
S.I for 5 years = (1020 - 720) = Rs. 300.
S.I. for 2 years = 300/5 * 2 = Rs. 120.
Principal = (720 - 120) = Rs. 600.
38)A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is?
A. 5%B. 8%C. 12%D. 15%
Answer: Option C
Explanation:
S.I. for 3 years = (12005 - 9800) = Rs. 2205
S.I. for 5 years = Rs. 2205/3 * 5 = Rs. 3675.
Principal = (9800 - 3675) = Rs. 6125
Hence, rate = (100 * 3675) / (6125 * 5) = 12%
39) 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. 4%B. 5 2/3 %C. 6%D. 6 2/3 %
Answer: Option A
Explanation:
Let sum = x. Then, S.I. = 2x/5, Time = 10 years.
Rate = (100 * 2x) / (x * 5 * 10) = 4%
40)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. 700B. Rs. 1500C. Rs. 4000D. Rs. 6500
Answer: Option B
Explanation:
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
41) 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: Option C
Explanation:
(1500 * R1 * 3)/100 - (1500 * R2 * 3)/100 = 13.50 4500(R1 - R2) = 1350
R1 - R2 = 0.3%
42) If the annual rate of simple interest increases from 10% to 12 1/2 %, a man's yearly income increases by Rs. 1250. His principal in Rs. is?
A. 45000B. 50000C. 60000D. 65000
Answer: Option B
Explanation:
Let the sum be Rs. x. Then,
(x * 25/2 * 1/100) - (x * 10 * 1)/100 = 1250
25x - 20x = 250000
x = 50000
43)The price of a T.V. set worth Rs. 20000 is to be paid in 20 installments of Rs. 1000 each. If the rate of interest be 6% per annum, and the first installment be paid at the time of purchase, then the value of the last installment covering the interest as well will be?
A. Rs. 1050B. Rs. 2050C. Rs. 3000D. None of these
Answer: Option D
Explanation:
Money paid in cash = Rs. 1000
Balance payment = (20000 - 1000) = Rs. 19000
44)Mr. Thomas invested an amount of Rs. 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 Rs. 3508, what was the amount invested in scheme B?
A. Rs. 6400B. Rs. 6500C. Rs. 7200D. Rs. 7500
Answer: Option A
Explanation:
Let the sum invested in scheme A be Rs. x and that in scheme B be Rs. (13900 - x). Then,
(x * 14 * 2)/100 + [(13900 - x) * 11 * 2]/100 = 3508
28x - 22x = 350800 - (13900 * 22)
6x = 45000 => x = 7500
So, sum invested in scheme B = (13900 - 7500) = Rs. 6400.
45)A person invested in all Rs. 2600 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interest in all the three cases. The money invested at 4% is?
A. Rs. 200B. Rs. 600C. Rs. 800D. Rs. 1200
Answer: Option D
Explanation:
Let the parts be x, y and [2600 - (x + y)].
Then,
(x * 4 * 1)/100 = (y * 6 * 1)/100 = {[2600 - (x + y)] * 8 * 1}/100
y/x = 4/6 = 2/3 or y = 2/3 x
So, (x * 4 * 1)/100 = [(2600 - 5/3 x) * 80/100
52x = (7800 * 8) => x = 1200
Money invested at 4% = Rs. 1200.
46)A lent Rs. 600 to B for 2 years and Rs. 150 to c for 4 years and receive as together from both Rs. 90 as simple interest. The rate of interest is:
A. 4%B. 5%C. 10%D. 12%
Answer: Option B
Explanation:
Rate = x % per annum = 90
(or) 18x = 90
or x = 5
47) At simple interest, a sum doubles after 20 years. The rate of interest per annum is:
A. 5%B. 10%C. 12%D. Data Inadequate
Answer: Option A
Explanation:
Sum = p.
S.I = p and Time = 20 years
Rate = (100 * p) / (p*20)
= 5 % per annum
48) How much simple interest will Rs. 2000 earn in 18 months at 6 % per annum?
A. Rs. 120B. Rs.180C. Rs.216D. Rs.240
Answer: Option B
Explanation:
S.I = Rs(2000 x 18/12 x 6/100) = Rs.180
49) A sum of money amounts to Rs.5200 in 5 years and to a Rs.5680 in 7 years at simple interest. The rate of interest per annum is?
A. 3 %B. 4 %C. 5 %D. 6 %
Answer: Option D
Explanation:
S.I for 2 years = Rs(5680 - 5200) = Rs 480
S.I for 1 year = Rs.(480/2) = Rs.240
S.I for 5 years = Rs.(240 x 5) = Rs. 1200
Therefore, Principle = Rs.(5200 - 1200) = Rs. 4000
Therefore, Rate = (120000/20000) % p.a = 6 % p.a
50)A certain sum is interested in simple interest if it triples in 10 years. What is the rate of interest?
A. 18 % p.aB. 20 % p.aC. 22 %p.aD. 25% p.a
Answer: Option B
Explanation:
Let the sum be Rs. x .
Then S.I = Rs (3x - x ) = Rs 2x
Therefore x × 12/100 × 10 = 2x
=> R = 20% p.a
A. Rs.1000B. Rs.1100C. Rs.1050D. Rs.1200
Answer: Option A
Explanation:
1120 = P [1 + (5*12/5)/100]
P= 1000
2) At what rate percent on simple interest will Rs.750 amount to Rs.900 in 5 years?
A. 5%B. 3 1/2%C. 4%D. 5 1/2 %
Answer: Option C
Explanation:
150 = (750*5*R)/100
R = 4%
3)Find the simple interest on Rs.500 for 9 months at 6 paisa per month?
A. Rs.345B. Rs.270C. Rs.275D. Rs.324
Answer: Option B
Explanation:
I = (500*9*6)/100 = 270
4)At what rate percent on simple interest will a sum of money double itself in 30 years?
A. 3 1/3 %B. 3 1/2%C. 4 %D. 4 1/2 %
Answer: Option A
Explanation:
P = (P*30*R)/100
R = 3 1/3%
5) A certain sum of money at simple interest amounted Rs.840 in 10 years at 3% per annum, find the sum?
A. Rs.500B. Rs.515C. Rs.525D. None
Answer: Option D
Explanation:
840 = P [1 + (10*3)/100]
P = 646
6)The simple interest on a sum of money will be Rs.600 after 10 years. If the principal is trebled after 5 years what will be the total interest at the end of the tenth year?
A. Rs.800B. Rs.900C. Rs.1200D. Rs.1500
Answer: Option C
Explanation:
P --- 10 ---- 600
P --- 5 ----- 300
3P --- 5 ----- 900
-------
=> 1200
7) If x is the interest on y and y is the interest on z, the rate and time is the same on both the cases. What is the relation between x, y and z?
A. xyz = 1B. X2 = yzC. Y2 = xzD. Z2 = xy
Answer: Option C
Explanation:
X = (Y*NR)/100 Y = (Z*NR)/100
X/Y = NR/100 Y/Z = NR/100
X/Y = Y/Z
Y2 = XZ
8)Rs.2500 is divided into two parts such that if one part be put out at 5% simple interest and the other at 6%, the yearly annual income may be Rs.140. How much was lent at 5%?
A. Rs.1500B. Rs.1300C. Rs.1200D. Rs.1000
Answer: Option D
Explanation:
(x*5*1)/100 + [(2500 - x)*6*1]/100 = 140
X = 1000
9) 4000 was divided into two parts such a way that when first part was invested at 3% and the second at 5%, the whole annual interest from both the investments is Rs.144, how much was put at 3%?
A. Rs.2500B. Rs.2700C. Rs.2800D. Rs.5000
Explanation:
(x*3*1)/100 + [(4000 - x)*5*1]/100 = 144
3x/100 + 200 – 5x/100 = 144
2x/100 = 56 => x = 2800
10) If Re.1 amounts to Rs.9 over a period of 20 years. What is the rate of simple interest?
A. 26 2/3 %B. 30 %C. 27 1/2%D. 40 %
Answer: Option D
Explanation:
8 = (1*20*R)/100
R = 40%
11)If rupee one produces rupees nine over a period of 40 years, find the rate of simple interest?
A. 20 %B. 10 %C. 15 %D. 22 1/2%
Answer: Option D
Explanation:
9 = (1*40*R)/100
R = 22 1/2 %
12) 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.1000B. Rs.750C. Rs.600D. Rs.500
Answer: Option D
Explanation:
(x*5*1)/100 + [(1500 - x)*6*1]/100 = 85
5x/100 + 90 – 6x/100 = 85
x/100 = 5
=> x = 500
13)In what time will Rs.4000 lent at 3% per annum on simple interest earn as much interest as Rs.5000 will earn in 5 years at 4% per annum on simple interest?
A. 8 1/3 yearsB. 9 yearsC. 7 1/2 yearsD. 7 1/3 years
Answer: Option A
Explanation:
(4000*3*R)/100 = (5000*5*4)/100
R = 8 1/3
14)In how many years will a sum of money doubles itself at 5% per annum on simple interest?
A. 22 yearsB. 20 yearsC. 21 yearsD. 29 years
Answer: Option B
Explanation:
P = (P*5*R)/100
R = 20%
15) A part of certain sum of money is invested at 9% per annum and the rest at 12% per annum, if the interest earned in each case for the same period is equal, then ratio of the sums invested is?
A. 2:3B. 3:4C. 4:3D. None
Answer: Option C
Explanation:
12:9
= 4:3
16) 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.3467B. Rs.640C. Rs.500D. None
Answer: Option B
Explanation:
(P*5*15)/100 - (P*3.5*15)/100 = 144
75P/100 – 52.5P/100 = 144
22.5P = 144 * 100
=> P = Rs.640
17)If A lends Rs.3500 to B at 10% per annum and B lends the same sum to C at 11.5% per annum then the gain of B in a period of 3 years is?
A. Rs.107.50B. Rs.115.50C. Rs.157.50D. Rs.177.50
Answer: Option C
Explanation:
(3500*1.5*3)/100 => 157.50
18) If Rs.450 amount to Rs.540 in 4 years, what will it amount to in 6 years at the same rate % per annum?
A. Rs.575B. Rs.675C. Rs.585D. Rs.685
Answer: Option C
Explanation:
90 = (450*4*R)/100
R = 5%
I = (450*6*5)/100 = 135
450 + 135 = 585
19)Rs.800 amounts to Rs.920 in 3 years at simple interest. If the interest is increased by 3%, it would amount to how much?
A. Rs.1056B. Rs.1112C. Rs.1182D. Rs.992
Answer: Option D
Explanation:
(800*3*3)/100 = 72
920 + 72 = 992
20) What amount does Kiran get if he invests Rs. 18000 at 15% p.a. simple interest for four years?
A. Rs. 24800B. Rs. 28400C. Rs. 24400D. Rs. 28800E. None of these
Answer: Option D
Explanation:
Simple interest = (18000 * 4 * 15)/100 = Rs. 10800
Amount = P + I = 18000 + 10800 = Rs. 28800
21) How much interest can a person get on Rs. 8200 at 17.5% p.a. simple interest for a period of two years and six months?
A. Rs. 3770B. Rs. 2850.50C. Rs. 3587.50D. Rs. 3750E. None of these
Answer: Option C
Explanation:
I = (8200 * 2.5 * 17.5)/100 = (8200 * 5 * 35)/(100 * 2 * 2)
= Rs. 3587.50
22) 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. 12000; 12% p.a.B. Rs. 14000; 12% p.a.C. Rs. 12000; 15% p.a.D. Rs. 14000; 15% p.a.E. None of these
Answer: Option B
Explanation:
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.
23) 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. 7000B. Rs. 8500C. Rs. 8000D. Rs. 7500E. None of these
Answer: Option A
Explanation:
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.
24) A certain sum becomes four times itself at simple interest in eight years. In how many years does it become ten times itself?
A. 21B. 25C. 23D. 27E. None of these
Answer: Option E
Explanation:
Let the sum be Rs. x, then it becomes Rs. 4x in eight years Rs. 3x is the interest on x for eight years.
R = (100 * 3x)/(x * 8) = 300/8 %
If the sum becomes ten times itself, then interest is 9x.
The required time period = (100 * 9x)/(x * 300/8)
= (100 * 9x * 8)/(x * 300) = 24 years.
25)Vijay lent out an amount Rs. 10000 into two parts, one at 8% p.a. and the remaining at 10% p.a. both on simple interest. At the end of the year he received Rs. 890 as total interest. What was the amount he lent out at 8% pa.a?
A. Rs. 6000B. Rs. 5500C. Rs. 4500D. Rs. 5000E. None of these
Answer: Option B
Explanation:
Let the amount lent out at 8% p.a. be Rs. A
=> (A * 8)/100 + [(10000 - A) * 10]/100 = 890
=> A = Rs. 5500.
26) Anil invested a sum of money at a certain rate of simple interest for a period of five years. Had he invested the sum for a period of eight years for the same rate, the total intrest earned by him would have been sixty percent more than the earlier interest amount. Find the rate of interest p.a.
A. 6%B. 9%C. 12.5%D. Cannot be determinedE. None of these
Answer: Option D
Explanation:
Let the sum be Rs.P. Let the rate of interest be R% p.a.
(P)(8)(R)/100 = [1 + 6/100][ (P)(5)(R) /100] = 1.6{5PR/100]
8PR/100 = 8PR/100 which is anyway true.
R cannot be found.
27)A certain sum of money is invested for one year at a certain rate of simple interest. If the rate of interest is 3% higher, then the invest earned will be 25% more than the interest earned earlier. What is the earlier rate of interest?
A. 4% p.a.B. 6% p.a.C. 8% p.a.D. 12% p.a.E. None of these
Answer: Option D
Explanation:
If the interest earned is 25% more than the earlier interest then the rate of interest also should be 25% higher than the earlier rate.
Let the earlier rate of interest be x%.
Now it will be (x + 3)%
% increase = (x + 3) - x/x * 100 = 25
=> x = 12
28) Rs.4500 amounts to Rs.5544 in two years at compound interest, compounded annually. If the rate of the interest for the first year is 12%, find the rate of interest for the second year?
A. 10%B. 12%C. 15%D. 20%E. None of these
Answer: Option A
Explanation:
Let the rate of interest during the second year be R%. Given,
4500 * {(100 + 12)/100} * {(100 + R)/100} = 5544
R = 10%
29)How much time will take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A. 3.5 yearsB. 4 yearsC. 4.5 yearsD. 5 years
Answer: Option B
Explanation:
Time = (100 * 81) / (450 * 4.5) = 4 years
30)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. 3.6B. 6C. 18D. Cannot be determinedE. None of these
Answer: Option B
Explanation:
Let rate = R% and time = R years.
Then, (1200 * R * R) / 100 = 432
12R2 = 432
R2 = 36 => R = 6.
31) What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum?
A. Rs. 112B. Rs. 118.80C. Rs. 120D. Rs. 122
Answer: Option C
Explanation:
Let the present worth be Rs. x. Then,
S.I. = (132 - x)
(x * 5 * 2) / 100 = (132 - x)
10x = 13200 - 100x
110x = 13200 => x = 120.
32)A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9% p.a. in 5 years. What is the sum?
A. Rs. 4462.50B. Rs. 8032.50C. Rs. 8900D. Rs. 8925
Answer: Option D
Explanation:
Principal = (100 * 4016.25) / (9 * 5) = Rs. 8925.
33)A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
A. Rs. 35B. Rs. 245C. Rs. 350D. Cannot be determined
Answer: Option D
Explanation:
We need to know the S.I., principal and time to find the rate. Since the principal is not given, so data is inadequate.
34) What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
A. 1:3B. 1:4C. 2:3D. Data inadequate
Answer: Option C
Explanation:
Let the principal be P and rate of interest be R%.
Required ratio = [(P * R * 6)/100] / [(P * R * 9)/100]
= 6PR/9PR = 6/9
= 2:3
35) Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, how much money did he borrow?
A. Rs. 8000B. Rs. 10000C. Rs. 12000D. Data inadequate
Answer: Option A
Explanation:
Let the sum be Rs. x. Then,
[(x * 6 * 3)/100] + [(x * 9 * 5)/100] + [(x * 13 * 3)/100] = 8160
18x + 45x + 39x = (8160 * 100)
102x = 816000 => x = 8000.
36)An automobile financier claims to be lending money at S.I., 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: Option B
Explanation:
Let the sum be Rs. 100. Then,
S.I. for first 6 months = (100 * 10 *1) / (100 * 2) = Rs. 5
S.I. for last 6 months = (105 * 10 * 1) / (100 * 2) = Rs. 5.25
So, amount at the end of 1 year = (100 + 5 + 5.25) = Rs. 110.25
Effective rate = (110.25 - 100) = 10.25%.
37)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. 500B. Rs. 600C. Rs. 700D. Rs. 710
Answer: Option B
Explanation:
S.I for 5 years = (1020 - 720) = Rs. 300.
S.I. for 2 years = 300/5 * 2 = Rs. 120.
Principal = (720 - 120) = Rs. 600.
38)A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is?
A. 5%B. 8%C. 12%D. 15%
Answer: Option C
Explanation:
S.I. for 3 years = (12005 - 9800) = Rs. 2205
S.I. for 5 years = Rs. 2205/3 * 5 = Rs. 3675.
Principal = (9800 - 3675) = Rs. 6125
Hence, rate = (100 * 3675) / (6125 * 5) = 12%
39) 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. 4%B. 5 2/3 %C. 6%D. 6 2/3 %
Answer: Option A
Explanation:
Let sum = x. Then, S.I. = 2x/5, Time = 10 years.
Rate = (100 * 2x) / (x * 5 * 10) = 4%
40)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. 700B. Rs. 1500C. Rs. 4000D. Rs. 6500
Answer: Option B
Explanation:
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
41) 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: Option C
Explanation:
(1500 * R1 * 3)/100 - (1500 * R2 * 3)/100 = 13.50 4500(R1 - R2) = 1350
R1 - R2 = 0.3%
42) If the annual rate of simple interest increases from 10% to 12 1/2 %, a man's yearly income increases by Rs. 1250. His principal in Rs. is?
A. 45000B. 50000C. 60000D. 65000
Answer: Option B
Explanation:
Let the sum be Rs. x. Then,
(x * 25/2 * 1/100) - (x * 10 * 1)/100 = 1250
25x - 20x = 250000
x = 50000
43)The price of a T.V. set worth Rs. 20000 is to be paid in 20 installments of Rs. 1000 each. If the rate of interest be 6% per annum, and the first installment be paid at the time of purchase, then the value of the last installment covering the interest as well will be?
A. Rs. 1050B. Rs. 2050C. Rs. 3000D. None of these
Answer: Option D
Explanation:
Money paid in cash = Rs. 1000
Balance payment = (20000 - 1000) = Rs. 19000
44)Mr. Thomas invested an amount of Rs. 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 Rs. 3508, what was the amount invested in scheme B?
A. Rs. 6400B. Rs. 6500C. Rs. 7200D. Rs. 7500
Answer: Option A
Explanation:
Let the sum invested in scheme A be Rs. x and that in scheme B be Rs. (13900 - x). Then,
(x * 14 * 2)/100 + [(13900 - x) * 11 * 2]/100 = 3508
28x - 22x = 350800 - (13900 * 22)
6x = 45000 => x = 7500
So, sum invested in scheme B = (13900 - 7500) = Rs. 6400.
45)A person invested in all Rs. 2600 at 4%, 6% and 8% per annum simple interest. At the end of the year, he got the same interest in all the three cases. The money invested at 4% is?
A. Rs. 200B. Rs. 600C. Rs. 800D. Rs. 1200
Answer: Option D
Explanation:
Let the parts be x, y and [2600 - (x + y)].
Then,
(x * 4 * 1)/100 = (y * 6 * 1)/100 = {[2600 - (x + y)] * 8 * 1}/100
y/x = 4/6 = 2/3 or y = 2/3 x
So, (x * 4 * 1)/100 = [(2600 - 5/3 x) * 80/100
52x = (7800 * 8) => x = 1200
Money invested at 4% = Rs. 1200.
46)A lent Rs. 600 to B for 2 years and Rs. 150 to c for 4 years and receive as together from both Rs. 90 as simple interest. The rate of interest is:
A. 4%B. 5%C. 10%D. 12%
Answer: Option B
Explanation:
Rate = x % per annum = 90
(or) 18x = 90
or x = 5
47) At simple interest, a sum doubles after 20 years. The rate of interest per annum is:
A. 5%B. 10%C. 12%D. Data Inadequate
Answer: Option A
Explanation:
Sum = p.
S.I = p and Time = 20 years
Rate = (100 * p) / (p*20)
= 5 % per annum
48) How much simple interest will Rs. 2000 earn in 18 months at 6 % per annum?
A. Rs. 120B. Rs.180C. Rs.216D. Rs.240
Answer: Option B
Explanation:
S.I = Rs(2000 x 18/12 x 6/100) = Rs.180
49) A sum of money amounts to Rs.5200 in 5 years and to a Rs.5680 in 7 years at simple interest. The rate of interest per annum is?
A. 3 %B. 4 %C. 5 %D. 6 %
Answer: Option D
Explanation:
S.I for 2 years = Rs(5680 - 5200) = Rs 480
S.I for 1 year = Rs.(480/2) = Rs.240
S.I for 5 years = Rs.(240 x 5) = Rs. 1200
Therefore, Principle = Rs.(5200 - 1200) = Rs. 4000
Therefore, Rate = (120000/20000) % p.a = 6 % p.a
50)A certain sum is interested in simple interest if it triples in 10 years. What is the rate of interest?
A. 18 % p.aB. 20 % p.aC. 22 %p.aD. 25% p.a
Answer: Option B
Explanation:
Let the sum be Rs. x .
Then S.I = Rs (3x - x ) = Rs 2x
Therefore x × 12/100 × 10 = 2x
=> R = 20% p.a
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