Quants Questions: Simple Interest Set 5

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  1. Niharika borrows Rs.10000 for 2 years at 4% p.a. Simple interest. She immediately lends money to Girish at 50/4% p.a. for 2 years. Find the gain of 1 year?
    A)1050
    B)580
    C)850
    D)None of these
    Answer
    Answer – C)850
    Explanation :(10000*50*1/ 4*100 ) –  (10000*4*1 / 100)
    1250-400 = 850
  2. A certain amount of money amounts to Rs. 720 in 2 years and to Rs. 870 in 4(1/2) years. Find the rate of interest if S.I. is reckoned.
    A)12%
    B)10%
    C)12.50%
    D)None of these
    Answer
    Answer – B)10%
    Explanation :
    Trick: (A1*T2- A2*T1) / T2-T1
    (720*9/2 )–(870* 2)   /  ( 9/2) -2
  3. At what percent per annum will  a sum of money triple in 16 years?
    A)12%
    B)10%
    C)12(1/2)%
    D)11(1/2)%
    Answer
    Answer – C)12(1/2)%
    Explanation :
    P = P, SI=2P, T=16
    Rate= 100*2P/P*16
  4. The Simple Interest on a certain sum of money for 3(1/2) years at 16% p.a. is 60 less than the SI on the same sum for 4(1/2) years at 14% p.a. Find the sum.
    A)Rs.875.14
    B)Rs.785.12
    C)Rs.857.14
    D)None of these
    Answer
    Answer –C)Rs.857.14
    Explanation :X*9*14/ 100*2 – x*7*16/ 100*2  =60
  5. A man lends Rs.20000 in four parts if he gets 8% on Rs.4000, 6(1/2)% on Rs. 8000 and 8(1/2)% on Rs.6000. What percent must he get for the remainder, if his average annual interest is 9.13%?
    A)13,8%
    B)23.8%
    C)12.8%
    D)None of these
    Answer
    Answer – B)23.8%
    Explanation :
    (4000*8*1)/100 + (8000*13*1)/2*100  +(6000*17*1)/100 + (2000*R*1)/100 =9.13/100 *20000
  6. A sum was put at S.I. at certain rate for 4 years. Had it been put at 6% higher rate, it would have fetched Rs.800 more. Find the sum.
    A)1333.33
    B)3333.33
    C)1433.33
    D)3033.33
    Answer
    Answer – B)3333.33
    Explanation :
    At 6% higher, increase in SI for 4 years= Rs.800
    For 1 year= 800/4= 200
    200 is 6% of the sum
    1%= 200/6
    Sum= 200*100 / 6
  7. If a sum of money becomes 16 times in 4 years at SI. The rate of interest is
    A)475
    B)440
    C)650
    D)375
    Answer
    Answer – D)375
    Explanation :
    Trick: 100(x-1) / T i.e. 100(16-1) / 4
    X= No. of times it becomes
  8. A certain sum of money amounts to Rs.800 in 2 years and to Rs. 920 in 3 years then the sum is
    A)420
    B)680
    C)560
    D)None of these
    Answer
    Answer – C)560
    Explanation :
    Trick: (A2 –  A1)/ T2-T1
    (920-800)  /1 = 120
    P = 800-240 = 560
  9. The SI on a sum of money will be Rs.2500 after 5 years. In the next 5 years Principal is trebled, what will be the total interest at the end of the 10th year?
    A)Rs.20000
    B)Rs.10000
    C)Rs.15000
    D)None of these
    Answer
    Answer – B)Rs.10000
    Explanation :
    Trick: (n+1) * x  i.e.  (3+1) *2500
    N= No. of times it become
    X= SI
  10. A sum of money becomes 8 times at SI rate of 5% p.a. At what rate percent will it become twelve fold?
    A)6(6/7)%
    B)5(6/7)%
    C)7(6/7)%
    D)None of these
    Answer
    Answer – C)7(6/7)%
    Explanation :
    [ (m-1) *r ] / n-1
    [(12-1) *5] /(8-1)

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