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Quantitative Aptitude > Interest

SIMPLE INTEREST MCQs

Total Questions : 234 | Page 7 of 24 pages
Question 61. Mohan lent some amount of money at 9% simple interest and an equal amount of money at 10% simple interest each for two years. If his total interest was Rs. 760, what amount was lent in each case ?
  1.    Rs.1800
  2.    Rs.1700
  3.    Rs.2000
  4.    Rs.1900
 Discuss Question
Answer: Option C. -> Rs.2000
Answer: (c)Using Rule 1,Let the sum lent in each case be x.Then, ${x × 9 × 2}/100 + {x × 10 × 2}/100$ = 760${x × 2}/100$(9 + 10) = 760${2 × 19x}/100$ = 760$x = {760 × 100}/{2 × 19}$ = Rs.2000
Question 62. A sum was lent at simple interest at a certain rate for 2 years. Had it been lent at 3% higher rate, it would have fetched Rs.300 more. The original sum of money was :
  1.    Rs.6000
  2.    Rs.5000
  3.    Rs.4000
  4.    Rs.7000
 Discuss Question
Answer: Option B. -> Rs.5000
Answer: (b)If the principal be x, then${x × 3 × 2}/100 = 300$$x = {300 × 100}/{3 × 2}$ = Rs.5000Using Rule 13.$P_1 = P, R_1 = R, T_1$ = 2.$P_2 = P, R_2 = R + 3, T_2$ = 2.S.I.= Rs.300300 = ${P × (R + 3) × 2 - PR2}/100$300 = ${6P}/100$ = Rs.5000
Question 63. A sum of money was invested at a certain rate of simple interest for 2 years . Had it been invested at 1% higher rate, it would have fetched Rs.24 more interest. The sum of money is :
  1.    Rs.1050
  2.    Rs.1200
  3.    Rs.9600
  4.    Rs.1000
 Discuss Question
Answer: Option B. -> Rs.1200
Answer: (b)${P × 1 × 2}/100 = 24$P = $2400/2$ = Rs.1200Using Rule 13,$P_1 = P, R_1 = R, T_1$ = 2.$P_2 = P, R_2 = R + 1, T_2$ = 2S.I.= Rs. 2424 = ${P(R +1)2 - PR2}/100$2400 = 2PR + 2P - 2PRP = Rs.1200
Question 64. A sum of Rs.400 amounts to Rs.480 in 4 years. What will it amount to if the rate of interest is increased by 2%?
  1.    Rs.560
  2.    Rs.484
  3.    None of these
  4.    Rs.512
 Discuss Question
Answer: Option D. -> Rs.512
Answer: (d)Using Rule 1Simple Interest (S.I.)= ${\text"Principal × Rate × Time"/100$ orS.I. = ${\text"P × R × T"/100$P = ${\text"S.I." × 100}/\text"R × T"$, R = ${\text"S.I." × 100}/\text"P × T"$, T = ${\text"S.I." × 100}/\text"P × R"$ A = P + S.I. or S.I. = A - P
Question 65. The rate of simple interest per annum of bank being decreased from 5% to 3$1/2$%, the annual income of a person from interest was less by Rs. 105. The sum deposited at the bank was
  1.    Rs.7,200
  2.    Rs.6,000
  3.    Rs.7,000
  4.    Rs.6,800
 Discuss Question
Answer: Option C. -> Rs.7,000
Answer: (c)Using Rule 1,Amount deposited in bank = Rs.x (let)Difference of rates= 5 - $7/2 = 3/2%$ per annumS.I. = ${\text"Principal × Time × Rate"/100$${x × 1 × 3}/{100 × 2}$ = 105$x = {105 × 200}/3$ = Rs.7000
Question 66. A sum of Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will the same sum become in 3 years ?
  1.    RS. 1042
  2.    Rs. 1025
  3.    Rs. 1024
  4.    Rs. 1052
 Discuss Question
Answer: Option D. -> Rs. 1052
Answer: (d)Using Rule 1,S.I. = 956 - 800 = Rs. 156Rate = ${\text"S.I." × 100}/\text" Principal × Time"$= ${156 × 100}/{800 × 3}$ = 6.5%New rate = (6.5 + 4)% = 10.5%S.I. = ${\text"Principal × Time × Rate"/100$= ${800 × 3 × 10.5}/100$ = Rs. 252Amount = Rs.(800 + 252) = Rs.1052
Question 67. A man loses Rs.55.50 yearly when the annual rate of interest falls from 11.5% to 10%. His capital (in rupees) is
  1.    7400
  2.    3700
  3.    11100
  4.    8325
 Discuss Question
Answer: Option B. -> 3700
Answer: (b)Using Rule 1,Let his capital be x.According to the question,${x × 11.5}/100 - {x × 10}/100$ = 55.50or (11.5 - 10)x = 5550or 1.5x = 5550or $x = 5550/{1.5}$ = Rs.3700
Question 68. Rs.800 amounts to Rs.920 in 3 years at simple interest. If the interest rate is increased by 3%, it would amount to
  1.    Rs.1,112
  2.    Rs.1,056
  3.    Rs.992
  4.    Rs.1,182
 Discuss Question
Answer: Option C. -> Rs.992
Answer: (c)Using Rule 1,S.I. = Rs.(920 - 800) = Rs.120Rate = ${\text"S.I." × 100}/\text" Principal × Time"$= ${120 × 100}/{800 × 3}$ = 5% per annumNew rate = 8% per annumS.I. = ${800 × 3 × 8}/100$ = Rs.192Amount = (800 + 192) = Rs.992
Question 69. A sum of Rs.2,400 amounts to Rs.3,264 in 4 years at a certain rate of simple interest. If the rate of interest is increased by 1%, the same sum in the same time would amount to
  1.    Rs.3,312
  2.    Rs.3,288
  3.    Rs.3,360
  4.    Rs.3,340
 Discuss Question
Answer: Option C. -> Rs.3,360
Answer: (c)Using Rule 1Simple Interest (S.I.)= ${\text"Principal × Rate × Time"/100$ orS.I. = ${\text"P × R × T"/100$P = ${\text"S.I." × 100}/\text"R × T"$, R = ${\text"S.I." × 100}/\text"P × T"$, T = ${\text"S.I." × 100}/\text"P × R"$ A = P + S.I. or S.I. = A - P
Question 70. The amount Rs.2,100 became Rs.2,352 in 2 years at simple interest. If the interest rate is decreased by 1%, what is the new interest ?
  1.    Rs.220
  2.    Rs.210
  3.    Rs.252
  4.    Rs.242
 Discuss Question
Answer: Option B. -> Rs.210
Answer: (b)Using Rule 1,S.I. = 2352 - 2100 = Rs.252Rate = ${\text"S.I." × 100}/\text" Principal × Time"$= ${252 × 100}/{2100 × 2}$ = 6% per annumNew rate = 5%S.I. = ${252 × 5}/6$ = Rs.210

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