period Search

Q:

What is the minimum period of time for which one can open an FD(Fixed Deposit) account ?

A) 15 days	B) 6 months
C) 7 days	D) 1 year

Answer & Explanation Answer: C) 7 days

Explanation:

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Q:

The period after parturition in which animal produces milk is called as _____

A) Calving period	B) Lactation period
C) Dry period	D) Conception

Answer & Explanation Answer: B) Lactation period

Explanation:

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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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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,

$[P {(1 + \frac{25}{2 x 100})}^{2} - P]$ = 510

P[ ${(\frac{9}{8})}^{2}$ - 1] = 510.

Sum = Rs. 1920

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

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Filed Under: Simple Interest
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Q:

A certain sum is invested at simple interest at 18% p.a. for two years instead of investing at 12% p.a. for the same time period. Therefore the interest received is more by Rs. 840. Find the sum ?

A) Rs. 5858	B) Rs. 8800
C) Rs. 7000	D) Rs. 6350

Answer & Explanation Answer: C) Rs. 7000

Explanation:

Let the sum be Rs. S.
(S x 18 x 2)/100 - (S x 12 x 2)/100 = 840 => 36S/100 - 24S/100 = 840

=> 12S/100 = 840 => S = 7000.

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Filed Under: Simple Interest
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Q:

If rupee two produces rupees eleven over a period of 30 years, find the rate of simple interest ?

A) 17.25 %	B) 18.14 %
C) 18.33 %	D) 17.35 %

Answer & Explanation Answer: C) 18.33 %

Explanation:

We know that I = PTR/100

11 = (2x30xR)/100

R = 18.333 %

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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

=> R = 6.

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Filed Under: Simple Interest
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Q:

Three friends, P, Q and R started a partnership business investing money in the ratio of 5 : 4 : 2 respectively for a period of 3 years. What is the amount received by P as his share in the total profit ?

a. Total amount invested in the business in Rs. 22,000.

b. Profit earned at the end of 3 years is 3/8 of the total investment.

c. The average amount of profit earned per year is Rs. 2750.

A) Only c is sufficient	B) Both a & b are sufficient
C) Both A & B gives result	D) None

Answer & Explanation Answer: C) Both A & B gives result

Explanation:

a and b give, profit after 3 years = Rs.(3/8 x 22000) = Rs.8250.

From c also, profit after 3 years = Rs. (2750 x 3) = Rs. 8250.

∴ P's share = Rs.(8250 x 5/11) = Rs. 3750.

Thus, (either C is redundant) or (a and b are redundant).

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Filed Under: Partnership
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