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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

3x + ( 24x/100 ) + ( 12x/100 )  = 1092

 336x =109200

 x = 325

Each instalment = Rs. 325

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

29 11623
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

 Years 

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

35 9708
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

17 9226
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

147 9059
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

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