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Q:

An automobile financier claims to be lending money at simple interest, but he includesthe interest every six months for calculating the principal. If he is charging an interest of10%, the effective rate of interest becomes:

A) 10%	B) 10.25%
C) 10.5%	D) none of these

Answer & Explanation Answer: B) 10.25%

Explanation:

Let the sum be Rs. 100. Then,

S.I. for first 6 months = Rs.[ (100 x 10 x 1)/(100 x 2) ]= Rs.5

S.I. for last 6 months =Rs.[(102 x 10 x 1)/(100 x 2) ] = Rs.5.25

So, amount at the end of 1 year = Rs. (100 + 5 + 5.25) = Rs. 110.25

Effective rate = (110.25 - 100) = 10.25%

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Filed Under: Simple Interest
Exam Prep: GRE

Q:

A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest

A) 3%	B) 4%
C) 5%	D) 6%

Answer & Explanation Answer: D) 6%

Explanation:

S.I. = Rs. (15500 - 12500) = Rs. 3000.

Rate = $(\frac{100 * 3000}{12500 * 4})$ % = 6%

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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, $(\frac{1200 \times R \times R}{100}) = 432$

$12 R^{2} = 432$

=> R = 6.

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

Q:

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

A) 3.5 years	B) 4 years
C) 4.5 years	D) 5 years

Answer & Explanation Answer: B) 4 years

Explanation:

Time = (100 x 81)/(450 x 4.5) years

= 4 years.

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Exam Prep: GRE

Q:

A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4 years. The sum is:

A) 650	B) 690
C) 698	D) 700

Answer & Explanation Answer: C) 698

Explanation:

S.I. for 1 year = Rs. (854 - 815) = Rs. 39.

S.I. for 3 years = Rs.(39 x 3) = Rs. 117.

Principal = Rs. (815 - 117) = Rs. 698

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Filed Under: Simple Interest
Exam Prep: GRE

Q:

A cistern of capacity 8000 litres measures externally 3.3 m by 2.6 m by 1.1 m and its walls are 5 cm thick. The thickness of the bottom is:

A) 90 cm	B) 1 dm
C) 1 m	D) 1.1 cm

Answer & Explanation Answer: B) 1 dm

Explanation:

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Filed Under: Volume and Surface Area

Q:

The slant height of a right circular cone is 10 m and its height is 8 m. Find the area of its curved surface

A) 40pi sq.m	B) 50pi sq.m
C) 60pi sq.m	D) 70pi sq.m

Answer & Explanation Answer: C) 60pi sq.m

Explanation:

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Filed Under: Volume and Surface Area

Q:

In a shower, 5 cm of rain falls. The volume of water that falls on 1.5 hectares of ground is:

A) 75 cubic meter	B) 750 cubic meter
C) 7500 cubic meter	D) 75000 cubic meter

Answer & Explanation Answer: B) 750 cubic meter

Explanation:

1 hectare = 10,000 Sq.m

So, Area = (1.5 x 10000) Sq.m

Depth = 5/100 m = 1/20 m

Therefore, Volume = Area X Depth = 15000 x (1/20)= 750 cu.m

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