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Quantitative Aptitude > Interest

SIMPLE INTEREST MCQs

Total Questions : 234 | Page 15 of 24 pages
Question 141. In what time will Rs. 1860 amount to 2641.20 at simple interest 12% per annum ?
  1.    3 years
  2.    $$3\frac{1}{2}$$ years
  3.    4 years
  4.    $$4\frac{1}{2}$$ years
 Discuss Question
Answer: Option B. -> $$3\frac{1}{2}$$ years
$$\eqalign{
& {\text{Rate }}\% = {\text{12}}\% \cr
& {\text{Principal = Rs}}{\text{. 1860}} \cr
& {\text{Amount = Rs}}{\text{. 2641}}{\text{.20}} \cr
& {\text{Interest}} \cr
& {\text{ = Rs}}{\text{. }}\left( {2641.20 - 1860} \right) \cr
& = {\text{Rs}}{\text{. 781}}{\text{.20}} \cr
& {\text{By using formula,}} \cr
& {\text{Required time }} \cr
& = \frac{{781.20 \times 100}}{{1860 \times 12}} \cr
& = 3\frac{1}{2}{\text{ years}} \cr} $$
Question 142. In a certain time, the ratio of a certain principal and interest obtained from it are in the ratio 10 : 3 at 10% interest per annum. The number of years for which the money was invested is = ?
  1.    1 year
  2.    3 year
  3.    5 year
  4.    7 year
 Discuss Question
Answer: Option B. -> 3 year
According to the question,
Principal    
    Interest
10  
  3
$$\eqalign{
& {\text{Rate }}\% {\text{ = 10}}\% \cr
& {\text{Time = }}\frac{3}{{10}} \times \frac{{100}}{{10}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\, = 3\,{\text{years}} \cr} $$
Question 143. Consider the following statements
If a sum of money is lent at simple interest, then the
I - money gets doubled in 5 years if the rate of interest is $$16\frac{2}{3}$$ %
II - money gets doubled in 5 years if the rate of interest is 20%.
III - money becomes four times in 10 years if it gets doubled in 5 years.
  1.    I and III are correct
  2.    II alone is correct
  3.    III alone is correct
  4.    II and III are correct
 Discuss Question
Answer: Option B. -> II alone is correct
$$\eqalign{
& {\text{Let sum be x}}{\text{.}} \cr
& {\text{Then,}} \cr
& {\text{S}}{\text{.I}}{\text{.}} = x \cr
& {\text{I - Time}} \cr
& = \frac{{100 \times x}}{{x \times \frac{{50}}{3}}} \cr
& = 6\,{\text{years(false)}} \cr
& {\text{II}} - {\text{Time}} \cr
& = \frac{{100 \times x}}{{x \times 20}} \cr
& = 5\,{\text{years(True)}} \cr
& {\text{III}} - {\text{Suppose sum}} = x. \cr
& {\text{Then, S}}{\text{.I}}{\text{. }} = x \cr
& {\text{Time }} = {\text{5 }}{\text{years}}{\text{.}} \cr
& {\text{Rate}} = \left( {\frac{{100 \times x}}{{x \times 5}}} \right)\% \cr
& \,\,\,\,\,\,\,\,\,\,\,\, = 20\% . \cr
& {\text{Now, sum}} = x,\,{\text{S}}{\text{.I}}{\text{.}} = 3x\,{\text{and}}\,{\text{Rate}} = 20\% \cr & \therefore {\text{Time}} = \left( {\frac{{100 \times 3x}}{{x \times 20}}} \right){\text{years}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 15\,{\text{years}}(\text{false}) \cr
& {\text{So, B alone is correct}}{\text{.}} \cr} $$
Question 144. Jhon invested a sum of money at an annual simple interest rate of 10%. At the end of four years the amount invested plus interest earned was Rs. 770. The amount invested was = ?
  1.    Rs. 650
  2.    Rs. 350
  3.    Rs. 550
  4.    Rs. 500
 Discuss Question
Answer: Option C. -> Rs. 550
Let the amount invested = Rs. P
According to the question,
$$\eqalign{
& {\text{P}} + \frac{{{\text{P}} \times 10 \times 4}}{{100}} = 770 \cr
& \Rightarrow {\text{P}} + \frac{{4{\text{P}}}}{{10}} = 770 \cr
& \Rightarrow \frac{{14{\text{P}}}}{{10}} = 770 \cr
& \Rightarrow {\text{P}} = \frac{{770 \times 10}}{{14}} \cr
& \Rightarrow {\text{P}} = {\text{Rs 550}} \cr} $$
Hence, required invested amount = Rs. 550
Alternate
$$\eqalign{
& {\text{10}}\% {\text{ = }}\frac{{1 \to {\text{Interest}}}}{{10 \to {\text{Principal}}}} \cr
& {\text{Interest in 4 years}} \cr
& {\text{ = 1}} \times {\text{4}} \cr
& = {\text{4}} \cr
& {\text{Amount = }} \cr
& = \left( {{\text{Interest + Principal}}} \right) \cr
& = 4 + 10 \cr
& = 14 \cr
& {\text{According to the question,}} \cr
& {\text{14 units = 770}} \cr
& {\text{1 unit = }}\frac{{770}}{{14}} \cr
& {\text{10 units = }}\frac{{770}}{{14}} \times {\text{10}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = Rs}}{\text{. 550 }} \cr
& {\text{The amount invested}} \cr
& {\text{ = Rs}}{\text{. 550}} \cr} $$
Question 145. The simple interest on a sum of money at 8% per annum for 6 years is half the sum. The sum is:
  1.    Rs. 4800
  2.    Rs. 6000
  3.    Rs. 8000
  4.    Date inadequate
 Discuss Question
Answer: Option D. -> Date inadequate
$$\eqalign{
& {\text{Let sum}} = x{\text{.}} \cr
& {\text{Then,}} \cr
& {\text{S}}{\text{.I}}{\text{.}} = \frac{x}{2} \cr
& \therefore \frac{x}{2} = \frac{{x \times 8 \times 6}}{{100}} \cr} $$
Clearly, data is inadequate.
Question 146. The population of a village decreases at the rate of 20% per annum. If its population 2 years ago was 10000, the present population is = ?
  1.    4600
  2.    6400
  3.    7600
  4.    6000
 Discuss Question
Answer: Option B. -> 6400
$$\eqalign{
& {\text{Present Population}} \cr
& = {\text{P}}{\left( {\frac{{1 - {\text{R}}}}{{100}}} \right)^n} \cr
& = 10000{\left( {\frac{{1 - 20}}{{100}}} \right)^2} \cr
& = 10000{\left( {\frac{{100 - 20}}{{100}}} \right)^2} \cr
& = 10000{\left( {\frac{{80}}{{100}}} \right)^2} \cr
& = 10000{\left( {\frac{4}{5}} \right)^2} \cr
& = 10000 \times \frac{{16}}{{25}} \cr
& = 400 \times 16 \cr
& = 6400 \cr} $$
Question 147. A person who pays income tax at the rate of 4 paise per rupee, find that fall of interest rate (income tax) from 4% to 3.75% diminishes his net yearly income by Rs. 48. What is his capital ?
  1.    Rs. 24000
  2.    Rs. 25000
  3.    Rs. 20000
  4.    Rs. 18000
 Discuss Question
Answer: Option C. -> Rs. 20000
Capital after paying income tax
$$\eqalign{
& \Rightarrow {\text{4}}\% - {\text{3}}{\text{.75}}\% = {\text{48}} \cr
& \Rightarrow {\text{0}}{\text{.25}}\% {\text{ = 48}} \cr
& {\text{100}}\% {\text{ = }}\frac{{48}}{{0.25}} \times 100 \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 19200 \cr} $$
⇒ Capital without paying income tax
⇒ 19200 = Capital × 96%
Net capital = 20000
Question 148. Rs. 12000 is divided into two parts such that simple interest on the first part for 3 years at 12% per annum may be equal to the simple interest on the second part for $$4\frac{1}{2}$$ years at 16% per annum. The ratio of the first part to the second part is = ?
  1.    2 : 1
  2.    1 : 2
  3.    2 : 3
  4.    3 : 2
 Discuss Question
Answer: Option A. -> 2 : 1
Let two parts are P1 and P2 respectively
According to the question
$$\eqalign{
& \frac{{{{\text{P}}_1} \times 3 \times 12}}{{100}} = \frac{{{{\text{P}}_2} \times 9 \times 16}}{{2 \times 100}} \cr
& 36{{\text{P}}_1} = 72{{\text{P}}_2} \cr
& \frac{{{{\text{P}}_1}}}{{{{\text{P}}_2}}} = \frac{{72}}{{36}} = \frac{2}{1} \cr
& {{\text{P}}_1}{\text{:}}{{\text{P}}_2} = 2:1 \cr
& {\text{Hence,}} \cr
& {\text{Required ratio = 2 : 1}} \cr} $$
Question 149. In how much time would the simple interest on a certain sum be 0.125 times the principal at 10% per annum?
  1.    $$1\frac{1}{4}$$ years
  2.    $$1\frac{3}{4}$$ years
  3.    $$2\frac{1}{4}$$ years
  4.    $$2\frac{3}{4}$$ years
 Discuss Question
Answer: Option A. -> $$1\frac{1}{4}$$ years
$$\eqalign{
& {\text{Let sum}} = x. \cr
& {\text{Then,}} \cr
& {\text{S}}{\text{.I}}{\text{.}} = 0.125x = \frac{1}{8}x \cr
& {\text{R}} = 10\% \cr
& \therefore \text{Rate} \cr
& = \left( {\frac{{100 \times x}}{{x \times 8 \times 10}}} \right){\text{years}} \cr
& = \frac{5}{4}{\text{years}} \cr
& = {\text{1}}\frac{1}{4}{\text{years}} \cr} $$
Question 150. For 2 years, a sum was put at SI at a certain rate. If the rate was 3% higher, it would have fetched Rs. 300 more. What will be the sum ?
  1.    Rs. 5000
  2.    Rs. 4800
  3.    Rs. 2500
  4.    Rs. 4484
 Discuss Question
Answer: Option A. -> Rs. 5000
$$\eqalign{
& {\text{Let principal is P}} \cr
& {\text{then,}} \cr
& {\text{300 = }}\frac{{{\text{P}} \times 3 \times 2}}{{100}} \cr
& {\text{P = 5000}} \cr} $$

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