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Quantitative Aptitude > Interest

SIMPLE INTEREST MCQs

Total Questions : 234 | Page 19 of 24 pages
Question 181. If x, y, z are three sum of money such that y is the simple interest on x and z is the simple interest on y for the same time and at the same rate of interest, then what is the relation between x, y, z we have = ?
  1.    x2 = xy
  2.    xyz = 1
  3.    x2 = yz
  4.    y2 = zx
 Discuss Question
Answer: Option D. -> y2 = zx
Let the time is 't' years and the rate of interest is R%
According to the question,
$$\eqalign{
& {\bf{Case(I):}} \cr
& y = \frac{{x \times {\text{R}} \times {\text{t}}}}{{100}}.....(i) \cr
& {\bf{Case(II):}} \cr
& z = \frac{{y \times {\text{R}} \times {\text{t}}}}{{100}}.....(ii) \cr} $$
By dividing equation (i) by equation (ii)
$$\eqalign{
& \frac{y}{z} = \frac{{x \times {\text{R}} \times {\text{t}}}}{{y \times {\text{R}} \times {\text{t}}}} \cr
& \Rightarrow {y^2} = zx \cr} $$
Question 182. Nitin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is Rs. 8160, the money borrowed by him (in Rupees) was?
  1.    Rs. 12000
  2.    Rs. 6000
  3.    Rs. 8000
  4.    Rs. 10000
 Discuss Question
Answer: Option C. -> Rs. 8000
Let the money borrowed by Nitin = Rs. P
According to the question,
$$\eqalign{
& \frac{{{\text{P}} \times 6 \times 3}}{{100}} + \frac{{{\text{P}} \times 9 \times 5}}{{100}} + \frac{{{\text{P}} \times 13 \times 3}}{{100}} = {\text{Rs}}{\text{. }}8160 \cr
& \Rightarrow \frac{{{\text{18P}}}}{{100}} + \frac{{{\text{45P}}}}{{100}} + \frac{{{\text{39P}}}}{{100}} = {\text{Rs}}{\text{. 1860}} \cr
& \Rightarrow \frac{{{\text{102P}}}}{{100}} = {\text{Rs}}{\text{. 8160}} \cr
& \Rightarrow {\text{P = Rs}}{\text{.}}\frac{{8160 \times 100}}{{102}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,{\text{ = Rs}}{\text{. 8000}} \cr} $$
Alternate
Note : In such type of questions to save your valuable time follow the given below method.
Let principal = Rs. 100
Total Interest
$$\frac{{100 \times 6 \times 3}}{{100}} + \frac{{100 \times 9 \times 5}}{{100}} + $$      $$\frac{{100 \times 13 \times 3}}{{100}}$$
$$\eqalign{
& = 18 + 45 + 39 \cr
& = 102{\text{ units}} \cr
& {\text{According to the question,}} \cr
& {\text{102 units = Rs}}{\text{. 8160}} \cr
& {\text{1 unit = Rs}}{\text{. }}\frac{{8160}}{{102}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = Rs}}{\text{. 80}} \cr
& {\text{100 units = Rs}}{\text{. 8000}} \cr
& {\text{Hence sum = Rs}}{\text{. 8000}} \cr} $$
Alternate
Total rate of interest in 11 years
$$\eqalign{
& \left( {6 \times 3} \right)\% + \left( {5 \times 9} \right)\% + \left( {3 \times 13} \right)\% {\text{ }} \cr
& \Rightarrow 102\% = 8160 \cr
& \Rightarrow 100\% = 8000 \cr
& \therefore {\text{Sum = Rs}}{\text{. 8000}} \cr} $$
Question 183. Simple interest on a certain amount is $$\frac{9}{{16}}$$ of the principal. If the numbers representing the rate of interest in percent and time in years be equal, then time, for which the principal is lent out, is -
  1.    $$5\frac{1}{2}$$ years
  2.    $$6\frac{1}{2}$$ years
  3.    7 years
  4.    $$7\frac{1}{2}$$ years
 Discuss Question
Answer: Option D. -> $$7\frac{1}{2}$$ years
$$\eqalign{
& {\text{Let}}\,{\text{sum}} = x. \cr
& {\text{Then,}} \cr
& {\text{S}}{\text{.I}}{\text{.}} = \frac{{\text{9}}}{{{\text{16}}}}x \cr
& {\text{Let rate}} = {\text{R}}\% \,\text{and} \cr
& \text{time} = R\,\text{years} \cr
& \therefore \left( {\frac{{x \times {\text{R}} \times {\text{R}}}}{{100}}} \right) = \frac{{9x}}{{16}} \cr
& \Rightarrow {{\text{R}}^2} = \frac{{900}}{{16}} \cr
& {\text{R}} = \frac{{30}}{4} = 7\frac{1}{2} \cr
& {\text{Hence,}} \cr
& {\text{time}} = 7\frac{1}{2}\text{years} \cr} $$
Question 184. A sum of Rs. 800 amounts to Rs. 920 in 3 years at the simple interest rate. If the rate is increased by 3% p.a. What will be the sum amount to in the same period ?
  1.    Rs. 992
  2.    Rs. 962
  3.    Rs. 942
  4.    Rs. 982
 Discuss Question
Answer: Option A. -> Rs. 992
$$\eqalign{
& {\text{Increased interest in 3 years}} \cr
& {\text{ = 3}} \times {\text{3}} \cr
& {\text{ = 9% }} \cr
& {\text{Hence increased amount}} \cr
& {\text{ = }}\frac{{800 \times 9}}{{100}} \cr
& = {\text{Rs}}{\text{. }}72 \cr
& {\text{Total amount}} \cr
& {\text{ = }}\left( {920 + 72} \right) \cr
& = {\text{Rs}}{\text{. }}992 \cr} $$
Question 185. A lends Rs. 2500 to B and a certain sum to C at the same time at 7% p.a. simple interest. If after 4 years, A altogether receives Rs. 1120 as interest from B and C, then the sum lent to C is :
  1.    Rs. 700
  2.    Rs. 1500
  3.    Rs. 4000
  4.    Rs. 6500
 Discuss Question
Answer: Option B. -> Rs. 1500
Let the sum lent to C be Rs. x.
Then,
$$\eqalign{
& \left( {\frac{{2500 \times 7 \times 4}}{{100}}} \right) + \left( {\frac{{x \times 7 \times 4}}{{100}}} \right) = 1120 \cr
& \Rightarrow \frac{{7x}}{{25}} = \left( {1120 - 700} \right) \cr
& \Rightarrow x = \left( {\frac{{420 \times 25}}{7}} \right) \cr
& \,\,\,\,\,\,\,\,\,\,\,\, = 1500. \cr} $$
Question 186. A sum was put at simple interest at a certain rate for 3 years. Had it been put at 1% higher rate, it would have fetched Rs. 5100 more. The sum is
  1.    Rs. 1, 20, 000
  2.    Rs. 1, 25, 000
  3.    Rs. 1, 50, 000
  4.    Rs. 1, 70, 000
 Discuss Question
Answer: Option D. -> Rs. 1, 70, 000
$$\eqalign{
& {\text{Let the sum be Rs}}{\text{. }}x{\text{ and}} \cr
& {\text{original rate be R}}\% \cr
& {\text{Then,}} \cr
& \Rightarrow \frac{{x \times \left( {{\text{R}} + 1} \right) \times 3}}{{100}} - \frac{{x \times {\text{R}} \times 3}}{{100}} = 5100 \cr
& \Rightarrow 3{\text{R}}x + 3x - 3{\text{R}}x = 510000 \cr
& \Rightarrow 3x = 510000 \cr
& \Rightarrow x = 170000. \cr
& {\text{Hence,}} \cr
& {\text{Sum}} = {\text{Rs}}.170000 \cr} $$
Question 187. What equal installment of annual payment will discharge a debt which is due as Rs. 848 at the end of 4 years at 4% per annum simple interest ?
  1.    Rs. 200
  2.    Rs. 212
  3.    Rs. 225
  4.    Rs. 250
 Discuss Question
Answer: Option A. -> Rs. 200
Let the annual installment be Rs. x.
Then,
$$ \Rightarrow \left[ {x + \left( {\frac{{x \times 3 \times 4}}{{100}}} \right)} \right] + $$     $$\left[ {x + \left( {\frac{{x \times 2 \times 4}}{{100}}} \right)} \right] + $$     $$\left[ {x + \left( {\frac{{x \times 1 \times 4}}{{100}}} \right)} \right] + $$     $$x = 848$$
$$\eqalign{
& \Leftrightarrow \frac{{28x}}{{25}} + \frac{{27x}}{{25}} + \frac{{26x}}{{25}} + x = 848 \cr
& \Leftrightarrow 106x = 848 \times 25 \cr
& \Leftrightarrow 106x = 21200 \cr
& \Leftrightarrow x = 200 \cr} $$
Short Cut Method : The annual payment that will discharge a debt of Rs. A due in t years at the rate of interest r % p.a. is.
$$\eqalign{
& \frac{{100{\text{A}}}}{{100t + \frac{{rt\left( {t - 1} \right)}}{2}}} \cr
& \therefore {\text{Annual installment}} \cr
& = {\text{Rs}}{\text{.}}\left[ {\frac{{100 \times 848}}{{100 \times 4 + \frac{{4 \times 4 \times 3}}{2}}}} \right] \cr
& = {\text{Rs}}{\text{.}}\left( {\frac{{100 \times 848}}{{424}}} \right) \cr
& = {\text{Rs}}{\text{. }}200 \cr} $$
Question 188. A man buys a TV priced at Rs. 16000. He pays Rs. 4000 at once and the rest after 15 months on which he is charges a simple interest at the rate of 12% per year. The total amount he pays for TV is = ?
  1.    Rs. 18200
  2.    Rs. 17200
  3.    Rs. 17800
  4.    Rs. 16800
 Discuss Question
Answer: Option C. -> Rs. 17800
Total price of TV = Rs. 16000
Initial payment = Rs. 4000
Remaining amount = Rs. 12000
Simple interest in 15 months for Rs. 12000
$$\eqalign{
& \Rightarrow {\text{S}}{\text{.I}}{\text{. = }}\frac{{{\text{P}} \times {\text{R}} \times {\text{T}}}}{{100}} \cr
& \Rightarrow {\text{S}}{\text{.I}}{\text{. = }}\frac{{12000 \times 12 \times 15}}{{100 \times 12}} \cr
& \Rightarrow {\text{S}}{\text{.I}}{\text{. = Rs}}{\text{. 1800}} \cr} $$
⇒ With S.I. total amount to be paid for principal amount Rs. 12000
= Rs. (12000 + 1800)
= Rs. 13800
= Therefore, total amount he pays for the TV is
= 4000 + 13800
= Rs. 17800
Question 189. If the ratio of principal and the simple interest of 5 years is 10 : 3, then the rate of interest is = ?
  1.    6%
  2.    8%
  3.    3%
  4.    5%
 Discuss Question
Answer: Option A. -> 6%
$$\eqalign{
& \frac{{\text{P}}}{{{\text{S}}{\text{.I}}{\text{.}}}} = \frac{{10}}{3} \cr
& {\text{Let Principal = 10}} \cr
& {\text{S}}{\text{.I}}{\text{. for 5 years = 3}} \cr
& {\text{S}}{\text{.I}}{\text{. for 1 year = 0}}{\text{.6}} \cr
& {\text{Rate = }}\frac{{{\text{S}}{\text{.I}}{\text{.}}}}{{{\text{Principal}}}} \times 100 \cr
& {\text{Rate = }}\frac{{0.6}}{{10}} \times 100 \cr
& \,\,\,\,\,\,\,\,\,\,\,\, = 6\% \cr} $$
Question 190. Mr. Dutta desired to deposit his retirement benefit of Rs. 3 lacs partly to a post office and partly to a bank at 10% and 6% simple interests respectively. If his monthly income was Rs. 2000, then the difference of his deposits in the post office and in the bank was = ?
  1.    Rs. 100000
  2.    Rs. 40000
  3.    Rs. 50000
  4.    Rs. Nil
 Discuss Question
Answer: Option D. -> Rs. Nil
10% of Rs. 3 Lacs = 30000
6% of Rs. 3 Lacs = 18000
1 month interest income = 2000
∴ 1 year interest income = 2000 × 12 = 24000
Profit of Bank = 24000 - 18000 = 6000
Profit of Post Office = 30000 - 24000 = 6000
∴ Ratio of profit = 6000 : 6000 = 1 : 1
So, amount deposited = Rs. 150000 each
And difference = 0

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