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Q:

Simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time, If both are numerically equal.

A) Rate = 7% and Time = 7 years. B) Rate = 8% and Time = 8 years.
C) Rate = 6% and Time = 6 years. D) Rate = 5% and Time = 5 years.
 
Answer & Explanation Answer: B) Rate = 8% and Time = 8 years.

Explanation:

Let sum = X. Then S.I = 16x/25

 

Let rate = R% and Time = R years.

 

Therefore,  (x * R * R)/100 = 16x/25   =>  R = 40/5 = 8

 

Therefore, Rate = 8% and Time = 8 years.

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Q:

A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.

A) Rs.4000 B) Rs.9000
C) Rs.5000 D) Rs.6000
 
Answer & Explanation Answer: D) Rs.6000

Explanation:

Let sum = P and original rate = R. Then

[(P * (R+2) * 3)/100] - [ (P * R * 3)/100] = 360

3P*(R+2) - 3PR = 36000

3PR + 6P - 3PR = 36000

6P = 36000

P = 6000

 

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Q:

A certain sum of money amounts to Rs 1008 in 2 years and to Rs 1164 in 3 ½  years. Find the sum and the rate of interest.

A) 800, 14% B) 800, 13%
C) 800, 12% D) 800, 19%
 
Answer & Explanation Answer: B) 800, 13%

Explanation:

S.I. for 1 ½ years = Rs (1164 - 1008) = Rs 156 . 

S.I. for 2 years = Rs (156 x 23 x 2)= Rs 208. 

Therefore, Principal = Rs (1008 - 208) = Rs 800. 

Now, P = 800, T= 2 and S.I. = 208.

Therefore, Rate = (100 x S.I.) / (P x T) = [ (100 x 208)/(800 x 2)]% = 13%

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Q:

At what rate percent per annum will a sum of money double in 8 years.

A) 12.5% B) 13.5%
C) 11.5% D) 14.5%
 
Answer & Explanation Answer: A) 12.5%

Explanation:

Let principal = P, Then, S.I.= P and Time = 8 years

 

We know that S.I. = PTR/100

 

Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

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Q:

A sum at simple interest at 1312% per annum amounts to Rs. 2502.50 after 4 years. Find the sum

A) Rs.1625 B) Rs1525
C) Rs.1425 D) Rs.1325
 
Answer & Explanation Answer: A) Rs.1625

Explanation:

 Let sum be Rs.x then, S.I. =Rs. [ x * (27/2) * 4 * (1/100) ] = Rs. 27x/50 

 

Amount =Rs [ x + (27x/50)] = Rs.77x/50 

 

=> 77X/50 = 2502.50  

 

=>X= (2502.50 * 50)/77 = 1625 

 

Hence Sum = Rs.1625

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Q:

Find: S.l. on Rs 3000 at 18% per annum for the period from 4th

A) 118 B) 105
C) 108 D) 110
 
Answer & Explanation Answer: C) 108

Explanation:

(24 + 31 + 18) days = 73 days = 1/5 year .

 

P = Rs 3000 and R = 18 % p.a.

 S.I=3000*18*15100

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Q:

Find: S.l. on Rs 6250 at 14% per annum for 146 days.

A) Rs.350 B) Rs.450
C) Rs.550 D) Rs.650
 
Answer & Explanation Answer: A) Rs.350

Explanation:

 

P = Rs. 6250, R = 14 %  & T = (146/365) years = 2/5 years .

 S.I=Rs.6250*14*25100=Rs.350

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Q:

Find: S.l on Rs 68000 at 1623 1 % per annum for 9 months

A) 6500 B) 7500
C) 8500 D) 9500
 
Answer & Explanation Answer: C) 8500

Explanation:

P = 68000, R =503%  & T = 9 months (3/4 years)  

 S.I=p×r×t100=(6800×503×34)100=Rs.8500

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Filed Under: Simple Interest
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Job Role: Bank PO