3
Q:

Mohan borrowed a sum of Rs. 12000 at 15% per annum from a money -lender on 13th January 1987 and returned the amount on 8th June 1987 to clear his debt. what was the amount by Mohan to the money-lender to clear his debt? 

Answer:



Q:

Ronika deposited Rs.7000 which amounted to Rs.9200 after 3 years at simple interest. Had the interest been 2% more. She would get how much ?

A) 9850 B) 9500
C) 9620 D) 9760
 
Answer & Explanation Answer: C) 9620

Explanation:

As the interest rate increases by 2%
=> (7000x3x2)/100 = 420
                               9200
                              --------
                               9620

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1 3
Q:

If J is the interest on K and K is the interest on L, the rate and time is the same on both the cases. What is the relation between J, K and L  ?

A) JxJ = KL B) KxK= JL
C) LxL = JK D) JKL = 1
 
Answer & Explanation Answer: B) KxK= JL

Explanation:

Let the Time be 'N' and Rate be 'R'

J = (K x NR)/100 K = (L x NR)/100

J/K = NR/100 K/L = NR/100

J/K = K/L

 = JL

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2 2
Q:

At what rate percent on simple interest will Rs.415 amount to Rs.514 in 4 years  ?

A) 4.58 % B) 5.96 %
C) 6.52 % D) 4.98 %
 
Answer & Explanation Answer: B) 5.96 %

Explanation:

Difference in amount = 514 - 415 = 99

99 = (415 x 4 x R)/100

R = 5.96%

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2 8
Q:

A sum of money at simple interest amounts to Rs. 415 in 2 years and to Rs. 514 in 4 years. The sum is ?

A) Rs. 316 B) Rs. 251
C) Rs. 154 D) Rs. 294
 
Answer & Explanation Answer: A) Rs. 316

Explanation:

S.I. for 2 years = (514 - 415) = Rs. 99
S.I. for 1 year = 99/2

Principal = (415 - 99) = Rs. 316.

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1 27
Q:

A lady took loan from a bank at the rate of 12% p.a. simple interest. After 3 years she had to pay Rs. 5400 interest only for the period. The principal amount borrowed by her was :

A) Rs. 15,000 B) Rs. 1,50,000
C) Rs. 1500 D) Rs. 1,62,000
 
Answer & Explanation Answer: A) Rs. 15,000

Explanation:

Principal = Rs.(100 x 5400)/(12 x 3)= Rs. 15000.

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2 98