29
Q:

The simple interest on a sum of money is 1/9 of the principal and the number of years is equal to the rate percent per annum. The rate percent per annum is? 

Answer:
Q:

An automobile financier claims to be lending money at S.I., but he includes the interest every six months for calculating the principal. If he is charging an interest of 8%, the effective rate of interest becomes ?

A) 10.25 % B) 8.16 %
C) 9.63 % D) 0.16 %
 
Answer & Explanation Answer: B) 8.16 %

Explanation:

Let the sum be Rs. 100. Then,
S.I. for first 6 months = (100 x 8 x 1) / (100 x 2) = Rs. 4
S.I. for last 6 months = (104 x 8 x 1) / (100 x 2) = Rs. 4.16
So, amount at the end of 1 year = (100 + 4 + 4.16) = Rs. 108.16
Effective rate = (108.16 - 100) = 8.16%.

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0 9
Q:

The interest on a certain deposit at 4.5% p.a. is Rs. 202.50 in one year. How much will the additional interest in one year be on the same deposit at 5% p.a.  ?

A) Rs. 22.5 B) Rs. 2.5
C) Rs. 202 D) Rs. 25
 
Answer & Explanation Answer: A) Rs. 22.5

Explanation:

We know that I = PTR/100
=> P = 20250/4.5 = 4500
Now, new Interest at 5% = 4500x1x5/100 = 225
Now the additional amount = 225 - 202.5 = Rs. 22.5

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1 26
Q:

The simple interest on Rs. 25 for 4 months at the rate of 3 paise per rupee per month is :

A) 240 paise B) Rs. 1.40
C) Rs. 2.20 D) Rs. 3
 
Answer & Explanation Answer: D) Rs. 3

Explanation:

I = PTR/100
I = 25 x 4 x 0.03/100
I = 0.03 x 100 = 300 Ps = Rs. 3

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1 23
Q:

A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is ?

A) 45/7 % B) 50/9 %
C) 51/7 % D) 47/ 9 %
 
Answer & Explanation Answer: B) 50/9 %

Explanation:

Let sum = S. Then, amount = 7S/6

S.I. = 7S/6 - S = S/6; Time = 3 years.

Rate = (100 x S) / (S x 6 x 3) = 5 5/9 = 50/9 %.

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1 25
Q:

If the C.I. on a sum for 2 years at 12 1/2 % per annum is Rs. 510, the S.I. on the same sum at the same rate for the same period of time is   ?

A) Rs. 580 B) Rs. 480
C) Rs. 550 D) Rs. 470
 
Answer & Explanation Answer: B) Rs. 480

Explanation:

Let the sum be Rs. P. Then,

 = 510

P[ - 1] = 510.

Sum = Rs. 1920

So, S.I. = (1920 x 25 x 2) / (2 x 100) = Rs. 480

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2 19