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Q:

What is the sum which earned interest?
I. The total simple interest was Rs. 7000 after 7 years.
II. The total of sum and simple interest was double of the sum after 5 years.

A) I alone sufficient while II alone not sufficient to answer B) II alone sufficient while I alone not sufficient to answer
C) Either I or II alone sufficient to answer D) Both I and II are necessary to answer
 
Answer & Explanation Answer: D) Both I and II are necessary to answer

Explanation:

Let the sum be Rs. x.

I  gives, S.I. = Rs. 7000 and T = 7 years.

II gives, Sum + S.I. for 5 years = 2 x Sum Sum = S.I. for 5 years.

Now, S.I. for 7 years = Rs. 7000.

therefore, S.I. for 1 year =  Rs. 1000.

Thus, I and II both are needed to get the answer.

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Bank PO

2 7641
Q:

A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 614 p.a for 2 years. Find his gain in the transaction per year

A) Rs. 112.50 B) Rs.150.25
C) Rs.167.50 D) Rs.170
 
Answer & Explanation Answer: A) Rs. 112.50

Explanation:

 gain in 2 years =Rs.5000*254*2100-5000*4*2100  

= Rs. (625 - 400) 

= Rs. 225 

 gain in 1 year =Rs.2252=112.50

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Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

112 41042
Q:

A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:

A) 5% B) 8%
C) 12% D) 15%
 
Answer & Explanation Answer: C) 12%

Explanation:

 

S.I. for 3 years = Rs. (12005 - 9800) = Rs. 2205.

 

S.I. for 5 years = Rs.22053×5= Rs.3675

 

Principle = Rs.(9800-3675) = Rs.6125

 

Hence, Rate = 100×36756125×5 =12%

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Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

16 18425
Q:

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

A) Rs.2000 B) Rs.10000
C) Rs.15000 D) Rs.20000
 
Answer & Explanation Answer: C) Rs.15000

Explanation:

Principal = Rs100×540012×3=Rs. 15000

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Filed Under: Simple Interest
Exam Prep: Bank Exams
Job Role: Bank PO

162 68030
Q:

A Rent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is:

A) 5% B) 7%
C) 7.5% D) 10%
 
Answer & Explanation Answer: D) 10%

Explanation:

 

Let the rate be R% p.a.

 

Then, 5000×r×2100+3000×r×4100=2200

 

Rate = 10% 

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Bank PO

9 8434
Q:

Reena 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) 3.6 B) 6
C) 18 D) cannot be determined
 
Answer & Explanation Answer: B) 6

Explanation:

Let rate = R% and time = R years.

 

Then, 1200×R×R100=432

 12R2=432

 

=> R = 6.

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Bank PO

6 9610
Q:

You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate

A) 6% B) 5%
C) 7% D) 8%
 
Answer & Explanation Answer: A) 6%

Explanation:

1. To find the interest, subtract the principal from the balance.

       $618 - $600 = $18

2.Use the simple interest formula and solve for r.

       I = Prt

      18= 600 x r x (1/2)

       r= 0.06 =6%

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Filed Under: Simple Interest
Exam Prep: GRE
Job Role: Bank PO

1 4634
Q:

main()

{

float me = 1.1;

double you = 1.1;

if(me==you)

printf("yes");

else

printf("No");

}

A) Yes B) No
C) Both D) Compilation error
 
Answer & Explanation Answer: B) No

Explanation:

For floating point numbers (float, double, long double) the values cannot be predicted exactly. Depending on the number of bytes, the precession with of the value represented varies. Float takes 4 bytes and long double takes 10 bytes. So float stores 0.9 with less precision than long double.

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Filed Under: Software Testing
Job Role: Software Architect

9 11021