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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:

An amount doubles itself in 15 years. what is the rate of interest ?

A) 7.85 % B) 9.41%
C) 6.66 % D) 4.21 %
 
Answer & Explanation Answer: C) 6.66 %

Explanation:

Let the principle be Rs. P
As the amount double itself the interest is Rs. P too
So P = P x r x 15/100
=> r = 100/15 = 20/3 % = 6.66 %.

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1 66
Q:

A Certain sum of money an amounts to Rs 2500 in a span Of 5 years and further to Rs.3000 in a span of 7 years at simple interest The sum is ?

A) Rs. 1800 B) Rs. 2000
C) Rs. 1400 D) Rs. 1250
 
Answer & Explanation Answer: D) Rs. 1250

Explanation:

2500 in 5th year and 3000 in 7th year
So in between 2 years Rs. 500 is increased => for a year 500/2 = 250
So, per year it is increasing Rs.250 then in 5 years => 250 x 5 = 1250
Hence, the initial amount must be 2500 - 1250 = Rs. 1250

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3 151
Q:

A simple interest earned on certain amount is triple the money when invested for 16 years.what is the interest rate offered ?

A) 13.33 % B) 14.25 %
C) 16.98 % D) 18.75 %
 
Answer & Explanation Answer: D) 18.75 %

Explanation:

Given,
S.I = 3 Principal Amount
=> 3A = A x 16 x R/100
By solving, we get
=> R = 18.75%

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4 91
Q:

If the rate increases by 2%, the simple interest received on a sum of money increases by Rs. 108. If the time period is increased by 2 years, the simple interest on the same sum increases by Rs.180. The sum is ?

A) Rs. 540 B) Rs. 415
C) Rs. 404 D) Data is not sufficient
 
Answer & Explanation Answer: D) Data is not sufficient

Explanation:

Let the sum be Rs. p, rate be R% p.a. and time be T years.
Then,

And, 

Clearly, from (1) and (2), we cannot find the value of p
So, the data is not sufficient.

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2 202
Q:

Question :

What is the sum which earned interest ?

Statements :

a. The total simple interest was Rs. 9000 after 9 years.
b. The total of sum and simple interest was double of the sum after 6 years.

A) Only a is sufficient B) Neither a nor b is sufficient
C) Only b is sufficient D) Both a and b sufficient
 
Answer & Explanation Answer: D) Both a and b sufficient

Explanation:

Let the sum be Rs. x
a. gives, S.I = Rs. 9000 and time = 9 years.
b. gives, Sum + S.I for 6 years = 2 x Sum

  Sum = S.I for 6 years.
Now, S.I for 9 years = Rs. 9000
S.I for 1 year = Rs. 9000/9 = Rs. 1000.
S.I for 6 years = Rs. (1000 x 6)= Rs. 6000.

 x = Rs. 6000

 Thus, both a and b are necessary to answer the question.

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