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Q:

The simple interest on a sum of money is 9/49 of the principal. The number of years are equal to the rate of interest per annum. What is the rate (in percentage) of interest
per annum?

 

A) 36/7 B) 27/7
C) 15/7 D) 30/7

Answer:   D) 30/7



Explanation:
Subject: Simple Interest - Quantitative Aptitude - Arithmetic Ability
Exam Prep: Bank Exams
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The rate of simple interest on a sum of money is 5% p.a. for the first 4 years, 8% p.a. for the next 3 years and 10% p.a. for the period beyond 7 years. If the simple interest accrued by the sum over a period of 10 years is ₹1,850, then the sum is:

 

A) ₹2,750 B) ₹1,650
C) ₹2,500 D) ₹1,500
 
Answer & Explanation Answer: C) ₹2,500

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A) 25 B)
C) D)
 
Answer & Explanation Answer: A) 25

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When two equal amounts are deposited for 5 years and 3 years at the rate of 7% and 9% per annum respectively, and the difference of their simple interest is Rs 475. Then find the deposited amount.

 

A) Rs. 5,937.5 B) Rs. 5,992.5  
C) Rs. 5,837.5 D) Rs. 6,037.5
 
Answer & Explanation Answer: A) Rs. 5,937.5

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A certain sum of money becomes double of itself in 5 years at a rate of simple interest. In how many years will it become 16 times of itself at the same rate of simple interest?

 

A) 20   B) 60  
C) 75   D) No option is correct
 
Answer & Explanation Answer: C) 75  

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The simple interest on a sum of money for 3 years at an interest rate of 6% p.a. is Rs.6,750. What will be the compound interest rounded off on the same sum at the same rate for the same period, compounded annually is closest to :

 

A) Rs. 7,133 B) Rs. 7,163
C) Rs. 7,103 D) Rs. 7,663
 
Answer & Explanation Answer: B) Rs. 7,163

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Q:

Consider the following question and decide which of the statements is sufficient to answer the question.

 

The simple interest on a sum of money is Rs. 100. What is the sum?

 

Statements:

I. The interest rate is 20% per annum.

II. The sum earned simple interest in 5 years.

 

A) Both statements I and II are sufficient B) Only statement I is sufficient
C) Only statement II is sufficient D) Either statement I or II is sufficient
 
Answer & Explanation Answer: A) Both statements I and II are sufficient

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At 8% simple interest per annum a sum of money becomes Rs.608 in 3.5 years. What was the sum invested?

A) Rs.440 B) Rs.475
C) Rs.450 D) Rs.460
 
Answer & Explanation Answer: B) Rs.475

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The simple interest on a sum is 3/5 of the principal at the rate of 7.5% per annum. What is the time period (in years)?

 

A) 7.5 B) 8
C) 10 D) 12.5
 
Answer & Explanation Answer: B) 8

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