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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 42 of 118 pages
Question 411.

Find the simple interest on Rs. 68,000 at `16 2/3` % per annum for 9 months.


  1.    6500
  2.    7000
  3.    8000
  4.    8500
 Discuss Question
Answer: Option D. -> 8500

P = Rs. 68000,        R = `50/3` % ,   p.a and T = `9/12` years = `3/4` years.

`:.`      S.I. =  `((P xx R xx T)/(100))` 

=Rs.`(68000 xx 50/3 xx 3/4 xx 1/100)` = Rs.8500


Question 412.
A lends Rs. 1500 to B and a certain sum to C at the same time at 8% per annum simple interest. If after 4 years, A altogether receives Rs. 1400 as interest from B and C, then the sum lent to C is
  1.    Rs.2875
  2.    Rs.1885
  3.    Rs.2245
  4.    Rs.2615
 Discuss Question
Answer: Option A. -> Rs.2875

Answer : Option A

Explanation :

Let the sum lent to C be Rs. x
Simple Interest for Rs.1500 at 8% per annum for 4 years
+ Simple Interest for Rs.x at 8% per annum for 4 years = Rs.1400
$MF#%\Rightarrow \dfrac{1500 \times 8 \times 4}{100} +\dfrac{x\times 8 \times 4}{100}= 1400\\\\ \Rightarrow 480 +\dfrac{32x}{100}= 1400\\\\ \Rightarrow \dfrac{32x}{100} = 920\\\\ \Rightarrow x = \dfrac{920 \times 100}{32} = 2875$MF#%


Question 413.

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?


  1.    3%
  2.    4%
  3.    5%
  4.    6%
  5.    None of these
 Discuss Question
Answer: Option D. -> 6%

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate =  A Sum Of Rs. 12,500 Amounts To Rs. 15,500 In 4 Years At The... 100 x 3000  A Sum Of Rs. 12,500 Amounts To Rs. 15,500 In 4 Years At The...% = 6% 12500 x 4


Question 414.
A sum fetched a total simple interest of Rs. 929.20 at the rate of 8 p.c.p.a. in 5 years. What is the sum?
  1.    Rs. 2323
  2.    Rs. 1223
  3.    Rs. 2563
  4.    Rs. 2353
 Discuss Question
Answer: Option A. -> Rs. 2323

Answer : Option A

Explanation :

SI = Rs.929.20
P = ?
T = 5 years
R = 8%
$MF#%\text{P = }\dfrac{100 \times \text{SI}}{\text{RT}}=\dfrac{100 \times 929.20}{8 \times 5}\text{ = Rs.2323}$MF#%


Question 415.
A sum of Rs. 2500 amounts to Rs. 3875 in 4 years at the rate of simple interest. What is the rate of interest?
  1.    12.25%
  2.    12%
  3.    6%
  4.    13.75%
 Discuss Question
Answer: Option D. -> 13.75%

Answer : Option D

Explanation :

Simple Interest, SI = (3875 - 2500) = Rs.1375
Principal, P = Rs. 2500
Time, T = 4 years
R = ?
$MF#%\text{R} = \dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times 1375}{2500 \times 4} = \dfrac{100 \times 1375}{10000} = 13.75\%$MF#%


Question 416.
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 three cases. The money invested at 4% is:
  1.    Rs.2200
  2.    Rs.800
  3.    Rs.1600
  4.    Rs.1200
 Discuss Question
Answer: Option D. -> Rs.1200

Answer : Option D

Explanation :

Let x , y and x be his investments at 4%, 6% and 8% respectively
Simple Interest on x at 4% for 1 year
= Simple Interest on y at 6% for 1 year
= Simple Interest on z at 8% for 1 year
$MF#%\begin{align}&\dfrac{x \times 4 \times 1}{100} = \dfrac{y \times 6 \times 1}{100} = \dfrac{z \times 8 \times 1}{100}\\\\ &\Rightarrow 4x = 6y = 8z\\\\ &\Rightarrow 2x = 3y = 4z\\\\ &\text{Hence, we have, }y = \dfrac{2x}{3}\text{ and }z = \dfrac{2x}{4}=\dfrac{x}{2}\\\\ &\text{we know that x + y + z = }2600\\\\ &\Rightarrow x + \dfrac{2x}{3} + \dfrac{x}{2} = 2600\\\\ &\Rightarrow 6x + 4x + 3x = 2600 \times 6\\\\ &\Rightarrow 13x = 2600 \times 6\\\\ &\Rightarrow x = \dfrac{2600 \times 6}{13}= 200 \times 6 = 1200\\\\ &\text{i.e., Money invested at 4% = Rs.1200}\end{align}$MF#%


Question 417.

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?


  1.    3.5 years
  2.    4 years
  3.    4.5 years
  4.    5 years
 Discuss Question
Answer: Option B. -> 4 years

Time =  How Much Time Will It Take For An Amount Of Rs. 450 To Yiel... 100 x 81  How Much Time Will It Take For An Amount Of Rs. 450 To Yiel...years = 4 years. 450 x 4.5


Question 418.
A sum of money becomes 7⁄5 of itself in 4 years at a certain rate of simple interest. The rate per annum is :
  1.    9%
  2.    10%
  3.    11%
  4.    12%
 Discuss Question
Answer: Option B. -> 10%

Answer : Option B

Explanation :

Let the sum of money be Rs.x
$MF#%\text{Amount after 4 years = }\dfrac{7x}{5}$MF#%
T = 4 years
R = ?
$MF#%\text{Simple Interest, SI = }\left(\dfrac{7x}{5} - x\right) = \dfrac{2x}{5} \\\\ \text{R = }\dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times \dfrac{2x}{5} }{x \times 4}= \dfrac{40}{4} = 10\%$MF#%


Question 419.
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
  1.    15%
  2.    12%
  3.    8%
  4.    5%
 Discuss Question
Answer: Option B. -> 12%

Answer : Option B

Explanation :

Simple Interest for 3 years = (Rs.12005 - Rs.9800) = Rs.2205
$MF#%\text{Simple Interest for 5 years = }\dfrac{2205}{3} \times 5 = \text{Rs.}3675$MF#%
Principal(P) = (Rs.9800 - Rs.3675) = Rs.6125
$MF#%\text{R = }\dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times 3675}{6125 \times 5}= 12\%$MF#%


Question 420.
A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :
  1.    Rs.3100
  2.    Rs.2700
  3.    Rs.2200
  4.    Rs.1800
 Discuss Question
Answer: Option B. -> Rs.2700

Answer : Option B

Explanation :

Let the man invests Rs.x at 6% and Rs.y at 7%
Simple Interest on Rs.x at 6% for 2 years + Simple Interest on Rs.y at 7% for 2 years = Rs.354
$MF#%\begin{align}&\dfrac{\text{x} \times 6 \times 2}{100} + \dfrac{\text{y} \times 7 \times 2}{100} = 354\\\\ &\text{x} \times 6 \times 2 + \text{y} \times 7 \times 2 = 354 \times 100\\\\ &\text{x} \times 6 + \text{y} \times 7 = 177\times 100\\\\ &\text{6x} + \text{7y} = 17700 \quad \color{#F00}{\cdots \text{(1)}}\end{align}$MF#%
One-forth of the first sum is equal to one-fifth of the second sum
$MF#% => \dfrac{x}{4}= \dfrac{y}{5}\\\\ => x = \dfrac{4y}{5}\quad \color{#F00}{\cdots \text{(2)}}$MF#%
Solving (1) and (2),
$MF#%\begin{align}&\text{6x} + \text{7y} = 17700 \\\\ &6\left(\dfrac{4y}{5}\right) + 7y = 17700\\\\ &24y + 35y = 17700 \times 5\\\\ &59y = 17700 \times 5\\\\ &y = 300 \times 5 = 1500\\\\ &x = \dfrac{4y}{5} = \dfrac{4\times1500}{5} = 4 \times 300 = 1200\end{align}$MF#%
total sum invested = x + y = 1500 + 1200 = 2700


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