GRE Questions and Answers with Explanation

Q:

What annual instalment will discharge a debt of Rs 1092 due in 3 years at 12% simple interest?

A) Rs.325	B) Rs.545
C) Rs.560	D) Rs.550

Answer & Explanation Answer: A) Rs.325

Explanation:

Let each instalment be Rs.x .

1st year = [x + (x * 12 * 2)/100]

2nd year = [ x + (x *12 * 1)/100]

3rd year = x

Then, [x + (x * 12 * 2)/100] + [ x + (x *12 * 1)/100] + x =1092

$\Leftrightarrow$ 3x + ( 24x/100 ) + ( 12x/100 ) = 1092

$\Leftrightarrow$ 336x =109200

$\therefore$ x = 325

Each instalment = Rs. 325

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Filed Under: Simple Interest - Quantitative Aptitude - Arithmetic Ability
Exam Prep: GRE

25 10271

Q:

Jo's collection contains US, Indian and British stamps. If the ratio of US to Indian stamps is 5 to 2 and the ratio of Indian to British stamps is 5 to 1, what is the ratio of US to British stamps?

A) 10 : 5	B) 15 : 2
C) 20 : 2	D) 25 : 2

Answer & Explanation Answer: D) 25 : 2

Explanation:

Indian stamps are common to both ratios. Multiply both ratios by factors such that the Indian stamps are represented by the same number.

US : Indian = 5 : 2, and Indian : British = 5 : 1. Multiply the first by 5, and the second by 2.

Now US : Indian = 25 : 10, and Indian : British = 10 : 2

Hence the two ratios can be combined and US : British = 25 : 2

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Filed Under: Ratio and Proportion - Quantitative Aptitude - Arithmetic Ability
Exam Prep: GRE

144 8540

Q:

In how many years will a sum of Rs.800 at 10% per annum compounded semi annually become Rs.926.10

A) 1.5	B) 2.5
C) 3.5	D) 4.5

Answer & Explanation Answer: A) 1.5

Explanation:

Let the time be 'n' years, Then

$800\times (1+\frac{5}{100})^2n=926.10\Leftrightarrow (1+\frac{5}{100})^{2n}=\frac{9261}{8000}\Leftrightarrow \left ( \frac{21}{20} \right )^{2n}=(\frac{21}{10})^3$

$\therefore n=\frac{3}{2} \; or \; n=1\frac{1}{2}$ Years

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Filed Under: Simple Interest - Quantitative Aptitude - Arithmetic Ability
Exam Prep: GRE

31 8087

Q:

At what rate percent per annum will a sum of money double in 8 years.

A) 12.5%	B) 13.5%
C) 11.5%	D) 14.5%

Answer & Explanation Answer: A) 12.5%

Explanation:

Let principal = P, Then, S.I.=P and Time=8 years

Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

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Filed Under: Simple Interest - Quantitative Aptitude - Arithmetic Ability
Exam Prep: GRE

12 7921

Q:

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:

A) 650	B) 690
C) 698	D) 700

Answer & Explanation Answer: C) 698

Explanation:

S.I. for 1 year = Rs. (854 - 815) = Rs. 39.

S.I. for 3 years = Rs.(39 x 3) = Rs. 117.

Principal = Rs. (815 - 117) = Rs. 698

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Filed Under: Simple Interest - Quantitative Aptitude - Arithmetic Ability
Exam Prep: GRE

8 7173

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