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Quantitative Aptitude > Interest

SIMPLE INTEREST MCQs

Total Questions : 234 | Page 13 of 24 pages
Question 121. At which sum the simple interest at the rate of $$3\frac{3}{4}$$ % per annum will be Rs. 210 in $$2\frac{1}{3}$$ years?
  1.    Rs. 1580
  2.    Rs. 2400
  3.    Rs. 2800
  4.    None of these
 Discuss Question
Answer: Option B. -> Rs. 2400
$$\eqalign{
& {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{. 210}} \cr
& {\text{R}} = 3\frac{3}{4}\% = \frac{{15}}{4}\% \cr
& {\text{T}} = {\text{2}}\frac{{\text{1}}}{{\text{3}}}{\text{years}} = \frac{7}{3}{\text{years}} \cr
& \therefore {\text{Sum}} = {\text{Rs}}{\text{.}}\left( {\frac{{100 \times 210}}{{\frac{{15}}{4} \times \frac{7}{3}}}} \right) \cr
& = {\text{Rs}}{\text{.}}\left( {\frac{{100 \times 210 \times 4 \times 3}}{{15 \times 7}}} \right) \cr
& = {\text{Rs}}{\text{. }}2400 \cr} $$
Question 122. A person invests money in three different schemes for 6 years, 10 years and 12 years at 10%, 12% and 15% simple interest respectively. At the completion of each scheme, he gets the same interest. The ratio of his investment is = ?
  1.    6 : 3 : 2
  2.    2 : 3 : 4
  3.    3 : 4 : 6
  4.    3 : 4 : 2
 Discuss Question
Answer: Option A. -> 6 : 3 : 2
Let the principal in each case = 100 units
According to the question,
     
     
  1st part  
  2nd part  
  3rd part  
  Principal  
  →  
  100x6  
  100x3  
  100x2  
  Rate %  
  →  
  10  
  12  
  15  
  Time  
  →  
  6  
  10  
  12  
  Interest  
  →  
  60x6  
  120x3  
  180x2  
Interest Interest is same in each, so equal the interest.
Hence required ratio
= 600 : 300 : 200 of sum
= 6 : 3 : 2
Question 123. If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after = ?
  1.    20 years
  2.    30 years
  3.    10 years
  4.    22 years
 Discuss Question
Answer: Option A. -> 20 years
$$\eqalign{
& {\text{Let principal = 10P}} \cr
& {\text{Interest = 10P}} \times \frac{{30}}{{100}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 3P}} \cr
& {\text{According to the question,}} \cr
& {\text{Case (I)}} \cr
& \Rightarrow 3{\text{P = }}\frac{{{\text{10P}} \times {\text{R}} \times {\text{6}}}}{{100}} \cr
& \Rightarrow {\text{R = 5}}\% \cr
& {\text{Case (II)}} \cr
& {\text{Interest = Principal = 10P}} \cr
& \Rightarrow {\text{10P = }}\frac{{{\text{10P}} \times {\text{5}} \times {\text{t}}}}{{100}} \cr
& \Rightarrow {\text{t = 20 years}} \cr} $$
Question 124. Rs. 1000 is invested at 5% per annum simple interest. If the interest is added to the principal after every 10 years, the amount will become Rs. 2000 after = ?
  1.    15 years
  2.    18 years
  3.    20 years
  4.    $$16\frac{2}{3}$$ years
 Discuss Question
Answer: Option D. -> $$16\frac{2}{3}$$ years
$$\eqalign{
& {\text{Principal = Rs}}{\text{. 1000 }} \cr
& {\text{Rate = 5}}\% \cr
& {\text{Interest for first 10 years}} \cr
& = \frac{{1000 \times 5 \times 10}}{{100}} \cr
& = {\text{Rs}}{\text{. 500}} \cr
& {\text{After 10 years principal}} \cr
& = {\text{(1000}} + {\text{500)}} \cr
& {\text{ = Rs}}{\text{. 1500}} \cr
& {\text{Remaining interest}} \cr
& {\text{ = Rs}}{\text{. (2000}} - {\text{1500)}} \cr
& {\text{ = Rs}}{\text{. 500}} \cr
& {\text{Required time }} \cr
& {\text{ = }}\frac{{500}}{{1500}} \times \frac{{100}}{5} \cr
& = \frac{{100}}{15} \cr
& = \frac{{20}}{3} \cr
& = 6\frac{2}{3}{\text{ years}} \cr
& {\text{Total time}} \cr
& = \left( {10 + 6\frac{2}{3}} \right){\text{years}} \cr
& {\text{ = 16}}\frac{2}{3}{\text{ years}} \cr} $$
Question 125. Rahul borrowed a sum of Rs. 1150 from Amit at the simple interest rate of 6 p.c.p.a. for 3 Years. He then added some more money to the borrowed sum and lent it to Sachin for the same time at 9 p.c.p.a simple interest. If Rahul gains Rs. 274.95 by way of interest on borrowed sum as well as his own amount from the whole transaction, then what is the sum lent by him to Sachin ?
  1.    Rs. 1200
  2.    Rs. 1285
  3.    Rs. 1690
  4.    Rs. 1785
  5.    None of these
 Discuss Question
Answer: Option D. -> Rs. 1785
Let the money added by Rahul be Rs. x
Then,
$$ \Rightarrow \frac{{\left( {1150 + x} \right) \times 9 \times 3}}{{100}} - $$     $$\frac{{1150 \times 6 \times 3}}{{100}} = $$    $$274.95$$
⇒ 1150 × 27 + 27x - 1150 × 18 = 27495
⇒ 27x + 1150 × (27 - 18) = 27495
⇒ 27x = 27495 - 10350
⇒ 27x = 17145
⇒ x = 635
So, sum lent by Rahul to Sachin
= Rs. ( 1150 + 635 )
= Rs. 1785
Question 126. A person invested some account at the rate of 12% simple interest and a certain amount at rate of 10% simple interest. He received yearly interest of Rs. 130. But if he had interchanged the amounts invested,he would have received Rs. 4 more as interest. How much did he invest at 12% simple interest ?
  1.    Rs. 400
  2.    Rs. 500
  3.    Rs. 700
  4.    Rs. 800
 Discuss Question
Answer: Option B. -> Rs. 500
Let the amount invested at 12% be Rs. x and that invested at 10% be Rs. y
$$\eqalign{
& \text{Then,} \cr
& \to 12\% \,{\text{of }}x + 10\% \,{\text{of }}y = 130 \cr
& \Rightarrow 12x + 10y = 13000 \cr
& \Rightarrow 6x + 5y = 6500......{\text{(i)}} \cr
& {\text{And,}} \cr
& \to 10\% \,{\text{of }}x + 12\% \,{\text{of }}y = 134 \cr
& \Rightarrow 10x + 12y = 13400 \cr
& \Rightarrow 5x + 6y = 6700......{\text{(ii)}} \cr
& {\text{Adding (i) and (ii), we get:}} \cr
& 11\left( {x + y} \right) = 13200 \cr
& \Rightarrow x + y = 1200.......({\text{iii}}) \cr
& {\text{Subtracting (i) from (ii),}} \cr
& {\text{we get: }} - x + y = 200.......({\text{iv}}) \cr
& {\text{Adding (iii) and (iv), }} \cr
& {\text{we get}}:2y = 1400\,or\,y = 700 \cr
& {\text{Hence,}} \cr
& {\text{Amount invested at 12%}} \cr
& = \left( {1200 - 700} \right) \cr
& = {\text{Rs}}{\text{. 500}} \cr} $$
Question 127. The amount Rs. 2100 become Rs. 2352 in 2 years at simple interest. If the interest rate is decreased by 1% , what is the new interest ?
  1.    Rs. 210
  2.    Rs. 220
  3.    Rs. 242
  4.    Rs. 252
 Discuss Question
Answer: Option A. -> Rs. 210
$$\eqalign{
& {\text{According to the question,}} \cr
& {\text{Principal}} = {\text{Rs}}{\text{. }}2100 \cr
& {\text{Amount}} = {\text{Rs}}{\text{. }}2352 \cr
& {\text{SI}} = {\text{A}} - {\text{P}} \cr
& \,\,\,\,\,\,\, = 2352 - 2100 \cr
& \,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}252 \cr
& {\text{Time = 2 years,}} \cr
& {\text{Let rate = R% }} \cr
& {\text{R = }}\frac{{252}}{{2100}} \times \frac{{100}}{2}{\text{ = 6% }} \cr
& {\text{New rate of interest}} \cr
& {\text{ = (6}} - {\text{1)}} \cr
& {\text{ = 5% }} \cr
& {\text{New interest}} \cr
& {\text{ = }}\frac{{2100 \times 5 \times 2}}{{100}} \cr
& {\text{ = Rs}}{\text{. 210}} \cr
& {\text{Hence required interest}} \cr
& {\text{ = Rs}}{\text{. 210}} \cr} $$
Question 128. Ram deposited a certain sum of money in a company at 12% per annum simple interest for 4 years and deposited equal amounts in fixed deposit in a bank for 5 years at 15% per annum simple interest. If the difference in the interest from two sources is Rs. 1350 then the sum deposited in each case is = ?
  1.    Rs. 3000
  2.    Rs. 4000
  3.    Rs. 6500
  4.    Rs. 5000
 Discuss Question
Answer: Option D. -> Rs. 5000
Difference between their rates he gained from both boys
$$\eqalign{
& \Rightarrow (15 \times 5)\% - (12 \times 4)\% \cr
& \Rightarrow 75\% - 48\% \cr
& \Rightarrow 27\% = 1350{\text{ }}({\text{given)}} \cr
& \Rightarrow 100\% = {\text{Rs}}{\text{. 5000}} \cr} $$
Question 129. A some of money lent out at simple interest amount to Rs. 720 after 2 years and Rs. 1020 after a further period of 5 years. Find the principal ?
  1.    Rs. 6000
  2.    Rs. 600
  3.    Rs. 1740
  4.    Rs. 120
 Discuss Question
Answer: Option B. -> Rs. 600
According to the question,
Principal + SI for 2 year = Rs. 720 ......(i)
Principal + SI for 7 year = Rs. 1020 ......(ii)
Subtracting equation (i) from (ii)
⇒ SI for 5 years = (1020 - 720) = Rs. 300
⇒ SI for 1 years = Rs. 60
⇒ SI for 2 years = 60 × 2 = Rs. 120
⇒ Principal amount = (Amount after 2 years - 2 years SI) = (720 - 120)
⇒ Principal amount = Rs. 600
Question 130. Two equal sums of money are lent at the same time at 8% and 7% per annum simple interest. The former is recovered 6 months earlier than the latter and the amount in each case is Rs. 2560. The sum and the time for which the sums of money are lent out are.
  1.    Rs. 2000, 3.5 years and 4 years
  2.    Rs. 1500, 3.5 years and 4 years
  3.    Rs. 2000, 4 years and 5.5 years
  4.    Rs. 3000, 4 years and 4.5 years
 Discuss Question
Answer: Option A. -> Rs. 2000, 3.5 years and 4 years
$$\eqalign{
& {\text{Let each sum}} = {\text{Rs}}{\text{. }}x. \cr
& {\text{Let the first sum be invested for}} \cr
& \left( {T - \frac{1}{2}} \right){\text{years and}} \cr
& {\text{the second sum for }}T{\text{ years}}{\text{.}} \cr
& {\text{Then,}} \cr
& x + \frac{{x \times 8 \times \left( {T - \frac{1}{2}} \right)}}{{100}} = 2560 \cr
& \Rightarrow 100x + 8xT - 4x = 256000 \cr
& \Rightarrow 96x + 8xT = 256000....(i) \cr
& {\text{And,}} \cr
& x + \frac{{x \times 7 \times T}}{{100}} = 2560 \cr
& \Rightarrow 100x + 7xT = 256000....(ii) \cr
& {\text{From(i) and (ii), we get:}} \cr
& 96x + 8xT = 100x + 7xT \cr
& \Rightarrow 4x = xT \cr
& \Rightarrow T = 4 \cr
& {\text{Putting }}T = {\text{4 in (i),we get:}} \cr
& 96x + 32x = 256000 \cr
& \Rightarrow 128x = 256000 \cr
& \Rightarrow x = 2000 \cr
& {\text{Hence,}} \cr
& {\text{each sum}} = {\text{Rs}}{\text{. 2000}} \cr
& {\text{time periods}} = \cr
& {\text{4 years and }}3\frac{1}{2}{\text{years}} \cr} $$

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