3
Q:

Question :

What is the sum which earned interest ?

Statements :

a. The total simple interest was Rs. 9000 after 9 years.
b. The total of sum and simple interest was double of the sum after 6 years.

A) Only a is sufficient B) Neither a nor b is sufficient
C) Only b is sufficient D) Both a and b sufficient

Answer:   D) Both a and b sufficient



Explanation:

Let the sum be Rs. x

a. gives, S.I = Rs. 9000 and time = 9 years.

b. gives, Sum + S.I for 6 years = 2 x Sum

--> Sum = S.I for 6 years.


Now, S.I for 9 years = Rs. 9000

S.I for 1 year = Rs. 9000/9 = Rs. 1000.

S.I for 6 years = Rs. (1000 x 6)= Rs. 6000.

--> x = Rs. 6000

Thus, both a and b are necessary to answer the question.

Subject: Simple Interest
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Q:

An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding). The total interest obtained after 2 years from both the schemes together is Rs 2090. If both the schemes have 18% per annum interest rate, then what is the first year interest (in Rs) of simple interest scheme?

A) 1000 B) 500
C) 545 D) 1045
 
Answer & Explanation Answer: B) 500

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3 540
Q:

Simple interest on a sum of Rs 67400 for 14 months is Rs 4718. What is the rate (in percentage) of interest per annum?

A) 5.5 B) 6
C) 8 D) 7
 
Answer & Explanation Answer: B) 6

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5 729
Q:

Simple interest on a sum for 9 months at 8% per annum is Rs 270.What is the value (in Rs) of the sum?

 

A) 5200 B) 5400
C) 4500 D) 3600
 
Answer & Explanation Answer: C) 4500

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8 5655
Q:

A certain sum of money becomes 4 times of itself in 30 years at a rate of simple interest. In how many years it will become double of itself at the same rate of simple interest?

A) 20 B) 15
C) 10 D) 12
 
Answer & Explanation Answer: C) 10

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3 895
Q:

Simple interest on a sum of Rs 1400 for 3 years and 4 months is Rs 700. What is the rate (in percentage) of interest per annum?

A) 17 B) 15
C) 18 D) 12
 
Answer & Explanation Answer: B) 15

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2 979
Q:

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs 8. The sum is ______.

A) Rs 10000 B) Rs 20000
C) Rs 5000 D) Rs 15000
 
Answer & Explanation Answer: C) Rs 5000

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2 763
Q:

Simple interest on a certain sum of money for 3 years at 16% per annum is half the compound interest on Rs. 12000 for 2 years at 10% per annum. The sum placed on simple interest is

A) Rs 5250 B) Rs 1325
C) Rs 2100 D) Rs 2625
 
Answer & Explanation Answer: D) Rs 2625

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2 686
Q:

The effective annual rate of interest corresponding to a nominal rate of 7% per annum payable half­yearly is

A) 14 percent B) 14.25 percent
C) 7 percent D) 7.12 percent
 
Answer & Explanation Answer: D) 7.12 percent

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