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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:

Praveena 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) 6 B) 7
C) 9 D) 11
 
Answer & Explanation Answer: A) 6

Explanation:

Let rate = R% and time = R years.

Then, (1200 x R x R) / 100 = 432

12 (RxR) = 432

R^2 = 36 => R = 6.

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2 30
Q:

Rs.1500 is divided into two parts such that if one part is invested at 6% and the other at 5% the whole annual interest from both the sum is Rs.85. How much was lent at 5% ?

A) Rs. 500 B) Rs. 245
C) Rs. 1250 D) Rs. 635
 
Answer & Explanation Answer: A) Rs. 500

Explanation:

(kx5x1)/100 + [(1500 - k)x6x1]/100 = 85

5k/100 + 90 – 6k/100 = 85

k/100 = 5

=> k = 500

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1 15
Q:

Althaf borrows Rs. 1500 from two moneylenders. He pays interest at the rate of 12% per annum for one loan and at the rate of 14% per annum for the other. The total interest he pays for the entire year is Rs. 186. How much does he borrow at the rate of 12% ?

A) Rs. 300 B) Rs. 400
C) Rs. 1200 D) Rs. 1100
 
Answer & Explanation Answer: C) Rs. 1200

Explanation:

Let Althaf lent Rs. A at 14% per year.
Hence, Money lent at 12% = (1500-A);
Given, total interest = Rs. 186.
{(A x 14x 1)/100} + {[(1500-A) x 12 x 1/100]} = 186;
14A/100 + (18000 -12A)/100 = 186;
14A + 18000 - 12A = 186x100;
2A = 18600-18000;
A = 600/2 = Rs. 300.
Hence, money lent at 12% = 1500-300 = Rs. 1200.

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1 85
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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1 180
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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4 343