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Quantitative Aptitude > Interest

SIMPLE & COMPOUND INTEREST MCQs

Compound Interest, Simple Interest, Interest (combined)


Total Questions : 1171 | Page 46 of 118 pages
Question 451.

A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a. in 5 years. What is the sum?


  1.    Rs. 4462.50
  2.    Rs. 8032.50
  3.    Rs. 8900
  4.    Rs. 8925
  5.    None of these
 Discuss Question
Answer: Option D. -> Rs. 8925

Principal = Rs.  A Sum Fetched A Total Simple Interest Of Rs. 4016.25 At The... 100 x 4016.25  A Sum Fetched A Total Simple Interest Of Rs. 4016.25 At The... 9 x 5 = Rs.  A Sum Fetched A Total Simple Interest Of Rs. 4016.25 At The... 401625  A Sum Fetched A Total Simple Interest Of Rs. 4016.25 At The... 45 = Rs. 8925.


Question 452.
If the simple interest on a certain sum of money after 3 1⁄8 years is 1⁄4 of the principal, what is the rate of interest per annum?
  1.    6%
  2.    4%
  3.    8%
  4.    12%
 Discuss Question
Answer: Option C. -> 8%

Answer : Option C

Explanation :

Let the the sum of money(P) be Rs.x
Time(T) = 3 1⁄8 Years = 25⁄8 Years
Simple interest (SI) = x⁄4
$MF#%\text{Rate of interest per annum(R) = }\dfrac{100 \times \text{SI}}{\text{PT}} = \dfrac{100 \times \dfrac{x}{4}}{x \times \dfrac{25}{8}} = \dfrac{100 \times x \times 8}{4 \times x \times 25} = 8\%$MF#%


Question 453.
A lent Rs. 4000 to B for 2 years and Rs. 2000 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 :
  1.    14%
  2.    15%
  3.    12%
  4.    13.75%
 Discuss Question
Answer: Option D. -> 13.75%

Answer : Option D

Explanation :

Let the rate of interest per annum be R%
Simple Interest for Rs.4000 for 2 years at R% + Simple Interest for Rs.2000 for 4 years at R%
= 2200
$MF#%\begin{align}&\dfrac{4000 \times \text{R} \times 2}{100} + \dfrac{2000 \times \text{R} \times 4}{100} = 2200\\\\ &80\text{R} + 80 \text{R} = 2200\\\\ &160\text{R} = 2200\\\\ &16\text{R} = 220\\\\ &4\text{R} = 55\\\\ &\text{R} = \dfrac{55}{4} = 13.75\% \end{align}$MF#%


Question 454.
A man took loan from a bank at the rate of 8% p.a. simple interest. After 4 years he had to pay Rs. 6200 interest only for the period. The principal amount borrowed by him was:
  1.    Rs.17322
  2.    Rs.20245
  3.    Rs.18230
  4.    Rs.19375
 Discuss Question
Answer: Option D. -> Rs.19375

Answer : Option D

Explanation :

Principal(P) = ?
Time(T) = 4 years
Simple Interest(SI) = Rs.6200
R = 8%
$MF#%\text{P = }\dfrac{100 \times \text{SI}}{\text{RT}} = \dfrac{100 \times 6200}{8 \times 4} = \text{Rs.}19375$MF#%


Question 455.
A sum at simple interests at 13 ½ % per annum amounts to Rs.2502.50 after 4 years find the sum.



  1.    1525
  2.    1575
  3.    1625
  4.    1675
 Discuss Question
Answer: Option C. -> 1625

Let sum be Rs. x then , S.I.=Rs.(x*(27/2) *4*(1/100) ) = Rs.27x/50
amount = (Rs. x+(27x/50)) = Rs.77x/50
77x/50 = 2502.50
x = (2502.50 * 50)/77 = 1625
Hence , sum = Rs.1625.



Question 456.
A certain amount earns simple interest of Rs. 1200 after 10 years. Had the interest been 2% more, how much more interest would it have earned?
  1.    Rs. 25
  2.    None of these
  3.    Rs. 120
  4.    Cannot be determined
 Discuss Question
Answer: Option D. -> Cannot be determined

Answer : Option D

Explanation :

Since we do not have the principal and rate of interest, we can not find out the required details.


Question 457.

An automobile financier claims to be lending money at simple interest, 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:


  1.    10%
  2.    10.25%
  3.    10.5%
  4.    None of these
 Discuss Question
Answer: Option B. -> 10.25%

Let the sum be Rs. 100. Then,

S.I. for first 6 months = Rs.  An Automobile Financier Claims To Be Lending Money At Simpl... 100 x 10 x 1  An Automobile Financier Claims To Be Lending Money At Simpl... = Rs. 5 100 x 2

S.I. for last 6 months = Rs.  An Automobile Financier Claims To Be Lending Money At Simpl... 105 x 10 x 1  An Automobile Financier Claims To Be Lending Money At Simpl... = Rs. 5.25 100 x 2

So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25

 An Automobile Financier Claims To Be Lending Money At Simpl... Effective rate = (110.25 - 100) = 10.25%


Question 458.
The simple interest on Rs.500 at 6% per annum from May 3rd to July 15th in the same year is
  1.    Rs. 8
  2.    Rs. 6
  3.    Rs. 4
  4.    Rs. 9
 Discuss Question
Answer: Option B. -> Rs. 6

Answer : Option B

Explanation :

Time from May 3rd to July 15th = 28 days of May + 30 days of June and 15 days of July
$MF#%\text{= 73 days= }\dfrac{73}{365}\text{ years = }\dfrac{1}{5}\text{ years}$MF#%
$MF#%\text{Simple interest = }\dfrac{\text{PRT}}{100}= \dfrac{500 \times 6 \times \dfrac{1}{5}}{100} =
6$MF#%


Question 459.
A sum of money doubles in 12 years. In how many years, it will treble at S.I.
  1.    12 years
  2.    8 years
  3.    6 years
  4.    24 years
 Discuss Question
Answer: Option D. -> 24 years

Answer : Option D

Explanation :

$MF#%\text{Simple Interest, SI = }\dfrac{\text{PRT}}{100}$MF#%
i.e, SI ∝ T when rate(R) and principal (P) are constants
Let x be the sum of money and which will treble in n years
(Please note that when the money doubles, simple interest is 2x - x = x
and when the money trebles, simple interest is 3x - x = 2x)
(2x-x) ∝ 12
=> x ∝ 12 -------------(1)
(3x-x) ∝ n
=> 2x ∝ n -------------(2)
From (1) and (2),
$MF#%\dfrac{x}{2x} = \dfrac{12}{n}\\\\ \dfrac{1}{2} = \dfrac{12}{n}\\\\ \Rightarrow \text{n = 24 years}$MF#%
i.e, in 24 years, the money will treble.


Question 460.
The interest on a certain deposit at 5% per annum is Rs. 101.20 in one year. How much will the additional interest in one year be on the same deposit at 6% per annum?
  1.    Rs.20.8
  2.    Rs.19.74
  3.    Rs.20.24
  4.    Rs.19.5
 Discuss Question
Answer: Option C. -> Rs.20.24

Answer : Option C

Explanation :

---------------------------------------------------------------------------------
Solution 1
---------------------------------------------------------------------------------
$MF#%\text{Principal, P = }\dfrac{100 \times \text{SI}}{\text{RT}} = \dfrac{100 \times 101.20}{5 \times 1}= 20 \times 101.20 = \text{Rs. 2024}\\\\ \text{Simple Interest for Rs.2024 at 6% per annum for 1 year, SI = }\dfrac{2024 \times 6 \times 1}{100} = 121.44$MF#%
Additional Interest = Rs.121.44 - Rs.101.20 = Rs.20.24
---------------------------------------------------------------------------------
Solution 2
---------------------------------------------------------------------------------
$MF#%\text{Principal, P = }\dfrac{100 \times \text{SI}}{\text{RT}} = \dfrac{100 \times 101.20}{5 \times 1}= 20 \times 101.20 = \text{Rs. 2024}$MF#%
All parameters remains same except the increase in interest rate.
and additional Interest Rate = 6% - 5% = 1%
$MF#%\text{Hence, Additional Interest = Simple Interest for Rs.2024 at 1% per annum for 1 year}\\\\=\dfrac{2024 \times 1 \times 1}{100} = 20.24$MF#%


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