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Quantitative Aptitude > Interest

SIMPLE INTEREST MCQs

Total Questions : 234 | Page 18 of 24 pages
Question 171. A sum of Rs. 3000 yields an interest of Rs. 1080 at 12% per annum simple interest in how many years ?
  1.    4 years
  2.    3 years
  3.    5 years
  4.    $$2\frac{1}{2}$$ years
 Discuss Question
Answer: Option B. -> 3 years
$$\eqalign{
& {\text{By using formula }} \cr
& \Leftrightarrow \frac{{{\text{3000}} \times 12 \times {\text{T}}}}{{100}} = 1080 \cr
& \Leftrightarrow {\text{T = }}\frac{{108}}{{36}}{\text{ = 3 years}} \cr} $$
Question 172. If a sum of money double itself in 8 years, then the interest rate in percentage is ?
  1.    $$8\frac{1}{2}$$ %
  2.    10%
  3.    $$10\frac{1}{2}$$ %
  4.    $$12\frac{1}{2}$$ %
 Discuss Question
Answer: Option D. -> $$12\frac{1}{2}$$ %
Money is double itself means interest is equal to money.
$$\eqalign{
& {\text{P = }}\frac{{{\text{P}} \times {\text{8}} \times {\text{r}}}}{{100}} \cr
& \Rightarrow {\text{r = }}\frac{{100}}{8} \cr
& \Rightarrow {\text{r = 12}}\frac{1}{2}\% \cr} $$
Question 173. The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is Rs. 840. Rate of interest for which the same amount of interest can be received on the same sum after 5 years is = ?
  1.    7%
  2.    8%
  3.    9%
  4.    10%
 Discuss Question
Answer: Option B. -> 8%
$$\eqalign{
& {\bf{Case - I:}} \cr
& {\text{SI}}\% = {\text{R}}\% \times {\text{t}} \cr
& {\text{SI}}\% = {\text{5}}\% \times {\text{8}} \cr
& = {\text{40}}\% \cr
& {\bf{Case - II:}} \cr
& {\text{SI}}\% = {\text{5}} \times {\text{r}}\% {\text{ }} \cr
& {\text{According to the question}} \cr
& \Rightarrow {\text{40}}\% = {\text{5}} \times {\text{r}}\% \cr
& \Rightarrow {\text{r}}\% = {\text{8}}\% \cr} $$
Question 174. Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10 : 3 at 6% simple interest per annum ?
  1.    7 years
  2.    3 years
  3.    5 years
  4.    4 years
 Discuss Question
Answer: Option C. -> 5 years
$$\eqalign{
& {\text{Let principal and SI is}} \cr
& {\text{ = }}10x,{\text{ }}3x{\text{ }} \cr
& {\text{and time is = }}t \cr
& \Rightarrow 3x = \frac{{10x \times 6 \times t}}{{100}} \cr
& \Rightarrow t = 5\,{\text{years}} \cr} $$
Question 175. A sum becomes its double in 10 years. Find the annual rate of simple interest.
  1.    8%
  2.    5%
  3.    10%
  4.    20%
 Discuss Question
Answer: Option C. -> 10%
  Let Sum be Rs. x and Let S.I. = Rs. x
$$\eqalign{
& {\text{Time}} = 10\,{\text{years}} \cr
& \therefore {\text{Rate}} = \frac{{{\text{S}}{\text{.I}}{\text{.}} \times {\text{100}}}}{{{\text{Principal}} \times {\text{Time}}}} \cr
& = \frac{{x \times 100}}{{x \times 10}} \cr
& = 10\% \,{\text{per}}\,{\text{annum}}{\text{.}} \cr} $$
Question 176. The interest earned on Rs. 15000 in 3 years at simple interest is Rs. 5400. Find the rate of interest per annum.
  1.    11.5%
  2.    12%
  3.    12.5%
  4.    15%
 Discuss Question
Answer: Option B. -> 12%
$$\eqalign{
& {\text{Rate}} = \frac{{{\text{S}}{\text{.I}}{\text{.}} \times {\text{100}}}}{{{\text{Principal}} \times {\text{Time}}}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{5400 \times 100}}{{15000 \times 3}} \cr
& = 12\% \,{\text{Per annum}}{\text{.}} \cr} $$
Question 177. If a sum of money becomes Rs. 4000 in 2 years and Rs. 5500 in 4 years 6 months at the same rate of simple interest per annum. Then the rate of simple interest is = ?
  1.    $${\text{21}}\frac{3}{7}$$ %
  2.    $${\text{21}}\frac{2}{7}$$ %
  3.    $${\text{21}}\frac{1}{7}$$ %
  4.    $${\text{21}}\frac{5}{7}$$ %
 Discuss Question
Answer: Option A. -> $${\text{21}}\frac{3}{7}$$ %
$$\eqalign{
& {\text{S}}{\text{.I}}{\text{. of 2}}{\text{.5 years}} \cr
& {\text{ = 5500}} - {\text{4000}} \cr
& {\text{ = 1500}} \cr
& {\text{S}}{\text{.I}}{\text{. of 2 years}} \cr
& {\text{ = }}\frac{{1500}}{{2.5}} \times {\text{2}} \cr
& {\text{ = 1200}} \cr
& {\text{So, Principal}} \cr
& {\text{ = 4000}} - {\text{SI of 2 years}} \cr
& \Rightarrow {\text{Principal = 4000}} - 1200 \cr
& \Rightarrow {\text{Principal = 2800}} \cr
& {\text{r}}\% {\text{ = }}\frac{{1200}}{{2800 \times 2}} \times {\text{100}} \cr
& \,\,\,\,\,\,\,\,{\text{ = 21}}\frac{3}{7}\% \cr} $$
Question 178. In simple interest rate per annum a certain sum amounts to Rs. 5182 in 2 years and Rs. 5832 in 3 years. The principal in rupees is = ?
  1.    Rs. 2882
  2.    Rs. 5000
  3.    Rs. 3882
  4.    Rs. 4000
 Discuss Question
Answer: Option C. -> Rs. 3882
S.I for 1 year = 5832 – 5182 = Rs. 650
S.I for 2 years = Rs. 1300
P = 5182 – 1300
= Rs. 3882
Question 179. The sum invested in scheme B is thrice the sum invested in scheme A. The investment in scheme A is made for 4 years at 8% p.a. simple interest and in scheme B for 2 years at 13% p.a. simple interest. The total interest earned from both the schemes is Rs. 1320. How much amount was invested in scheme A?
  1.    Rs. 1200
  2.    Rs. 1140
  3.    Rs. 960
  4.    Rs. 1500
 Discuss Question
Answer: Option A. -> Rs. 1200
Let the amount invested in scheme A be Rs. x and that in B be Rs. 3x.
Then,
$$\eqalign{
& = \frac{{x \times 4 \times 8}}{{100}} + \frac{{3x \times 2 \times 13}}{{100}} = 1320 \cr
& or,\,\frac{{32x}}{{100}} + \frac{{78x}}{{100}} = 1320 \cr
& or,\,\frac{{110x}}{{110}} = 1320 \cr
& \therefore x = \frac{{1320 \times 100}}{{110}} \cr
& = {\text{Rs}}{\text{. 1200}}. \cr} $$
Question 180. Rs. 260200 is divided between Ram and Shyam so that the amount that Ram receives in 3 years is the same as that Shyam receives in 6 years. If the interest is compounded annually at the rate of 4% per annum then Ram's share is = ?
  1.    Rs. 12500
  2.    Rs. 137745.02
  3.    Rs. 15200
  4.    Rs. 108200
 Discuss Question
Answer: Option B. -> Rs. 137745.02
Let Ram get Rs. x and
Shyam get Rs. (260200 - x)
Then Amount get by Ram after 3 years
$${\text{ = }}x \times {\left( {1 + \frac{4}{{100}}} \right)^3}$$
and Amount get by Shyam after 6 years
$$ = \left( {260200 - x} \right) \times {\left( {1 + \frac{4}{{100}}} \right)^6}$$
But both get equal amount
$$\therefore x \times {\left( {1 + \frac{4}{{100}}} \right)^3} = \left( {260200 - x} \right) \times $$       $${\left( {1 + \frac{4}{{100}}} \right)^6}$$
$$\eqalign{
& \Rightarrow \frac{x}{{2600200 - x}} = \frac{{17576}}{{15625}} \cr
& \Rightarrow 15625x = 4573275200 - 17576x \cr
& \Rightarrow 33201x = 4573275200 \cr
& \Rightarrow x = 137745.022 \cr} $$
So, Ram will get Rs. 137745.022

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