9
Q:

Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?

A) 3.6 B) 6
C) 18 D) Cannot be determined

Answer:   B) 6

Explanation:

Explanation:

Let rate = R% and time = R years.

Then, 

Q:

Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest ?

A) 20% p.a B) 15% p.a
C) 18% p.a D) 24% p.a
 
Answer & Explanation Answer: A) 20% p.a

Explanation:

Rs.1440 - 1200 = Rs.240 is the interest on Rs.1200 for one year.

Rate of interest = (100 x 240) / (1200) = 20% p.a

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1 13
Q:

In what time will Rs. 3300 becomes Rs. 3399 at 6% per annum interest compounded half-yearly ?

A) Quarter months B) Half year
C) 2 years D) 1 year
 
Answer & Explanation Answer: B) Half year

Explanation:

3300 ----- 3% ↑ (1st time interval, 99) → 3399.

Here, time interval is given as half-yearly i.e. 6 months.

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1 71
Q:

Find the principal if the interest compounded at the rate of 10% per annum for two years is Rs. 420 ?

A) Rs. 2000 B) Rs. 2100
C) Rs. 1900 D) Rs. 2150
 
Answer & Explanation Answer: A) Rs. 2000

Explanation:

Given,
Compound rate, R = 10% per annum
Time = 2 years
C.I = Rs. 420
Let P be the required principal.
A = (P+C.I)
Amount, A = {}
(P+C.I) = {}
(P+420) = P[11/10][11/10]
P-1.21P = -420
0.21P = 420
Hence, P = 420/0.21 = Rs. 2000

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1 60
Q:

Sonika invested an amount of Rs.5800 for 2 years. At what rate of compound interest will she get an amount of Rs.594.50 at the end of 2 years ?

A) 6.5% B) 6%
C) 5% D) 4.5%
 
Answer & Explanation Answer: C) 5%

Explanation:

C.I = 

594.5 = 

 % .

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4 223
Q:

The compound interest on a certain sum for 2 years at 10% per annum is Rs. 1155. The simple interest on the same sum for double the time at half the rate percent per annum is ?

A) Rs. 1100 B) Rs. 5500
C) Rs. 1400 D) Rs. 4120
 
Answer & Explanation Answer: A) Rs. 1100

Explanation:

Let the sum be Rs.x. Then, 

=> x =5500

sum = Rs. 5500.

So, S.I = Rs.

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2 271