Question 1

Ram gets Rs. 2600 for Rs. 2000 in 5 years at some rate of simple interest. Had he invested inother places where rate of simple interest is 3% more than current rate, how much would haveRam got in same time?
A)rs. 2900
B)rs. 3000
C)rs. 3100
D)rs. 2800

Accepted Answer

The interest Ram earns in 5 years is Rs. 600 (2600 - 2000). The annual interest is Rs. 120 (600/5). The rate of interest is 6% (120/2000 * 100). If the rate was 3% more, it would be 9%. The interest for 5 years at 9% would be Rs. 900 (2000 * 9% * 5). So, the total amount would be Rs. 2900 (2000 + 900).

Question 2

Guddi invested some money in a bank at rate of 6% per annum. At simple interest, after 9 years, she got Rs. 8470. How much did she invest?
A)rs. 5250
B)rs. 6550
C)rs. 6400
D)rs. 5500

Accepted Answer

D

Question 3

Aman got a salary of Rs. 8600. The salary was invested by him in two parts. Find thedifference between the two parts of his salary, if in first part he got some simple interest at 15%per annum in 4 years, which was same as the second part which he invested at 20% for 3 years.
A)rs. 0
B)rs. 2400
C)rs. 100
D)rs. 4500

Accepted Answer

A

Question 4

Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interestdoes Raj get?
A)rs. 3750
B)rs. 6250
C)rs. 3125
D)rs. 4250

Accepted Answer

The rate of interest can be calculated from Aman's investment: If Rs. 8000 doubles in 5 years, the interest earned is Rs. 8000, so the rate is (8000/8000)/5 = 0.2 or 20% per annum. For Raj, the interest for 3 years on Rs. 6250 at 20% per annum is 6250 * 0.2 * 3 = Rs. 3750.

Question 5

If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?
A)10%
B)15%
C)30%
D)5%

Accepted Answer

The answer of If simple interest for 2 years for...

Question 6

In 4 years the simple interest on certain sum of money is 9/25 of the principal. The annual rate of interest is
A)4%
B)4(1/2)%
C)9%
D)10%

Accepted Answer

The simple interest formula is SI = P * R * T / 100. Given SI = 9/25 * P and T = 4 years, solving for R gives R = 9%.

Question 7

A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest). The same sumbecomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find thesum and the duration.
A)rs. 2000 and 20 years
B)rs. 1900 and 8.25 years
C)rs. 1500 and 7 years
D)rs. 1800 and 5.5 years

Accepted Answer

The difference in interest rates is 3% (15% - 12%), and the difference in amounts is Rs. 300 (Rs. 3300 - Rs. 3000). Using the formula for simple interest, we find the sum to be Rs. 1800 and the duration to be 5.5 years.

Question 8

An amount becomes 7 times in 15 years. In how many years will the same amount become 10 times? The rate of interest remains the same for both cases.
A)20 years
B)18.75 years
C)22.50 years
D)21.50 years

Accepted Answer

Using the formula for compound interest, if an amount becomes 7 times in 15 years, it will become 10 times in 22.50 years.

Question 9

In 40 years an amount becomes 6 times the original amount. What is the rate of interest?
A)12.5%
B)24%
C)6.67%
D)34%

Accepted Answer

The amount becomes 6 times the original amount in 40 years, which means the interest earned is 5 times the original amount (since 6 times includes the original amount itself). Using the simple interest formula, where interest = principal × rate × time, and knowing that the interest is 5 times the principal over 40 years, we can set up the equation 5 = 40 × rate. Solving for rate gives us 5/40 = 1/8 = 12.5%.

Question 10

A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments withan initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, thenwhat would be the installment charged for each month?
A)rs. 4000
B)rs. 4106.67
C)rs. 4050.33
D)rs. 4066.01

Accepted Answer

The total amount to be paid in installments is Rs. 16000 (Rs. 20000 - Rs. 4000). The interest for 4 months at 8% per annum is calculated on the reducing balance. The monthly installment is calculated using the formula for equated monthly installments (EMI), resulting in approximately Rs. 4066.01.

Question 11

How much should be the annual installment to completely pay off a debt of Rs. 1078 in 6 years at 9% per annum rate of interest?
A)rs.146.35
B)rs.156.25
C)rs.126.55
D)rs.118.35

Accepted Answer

The annual installment can be calculated using the formula for the present value of an annuity. The formula is: Installment = Debt / [(1 - (1 + r)^-n) / r], where r is the annual interest rate and n is the number of years. Plugging in the values: Installment = 1078 / [(1 - (1 + 0.09)^-6) / 0.09] = Rs. 146.35.

Question 12

Rs. 20400 was divided in two parts and then invested. One part invested at 6.25% for 8 yearsyields the same interest as the other part invested at 7% for 5 years. What is the value of smallerpart?
A)9600
B)8400
C)10100
D)6500

Accepted Answer

The interest earned from both parts is the same. Using the formula for simple interest, $I = P \times r \times t$, where $I$ is the interest, $P$ is the principal amount, $r$ is the rate of interest, and $t$ is the time in years. Let the first part be $x$, so the second part is $20400 - x$. Setting up the equations for both parts and equating them gives us $x \times 6.25\% \times 8 = (20400 - x) \times 7\% \times 5$. Solving this equation for $x$ gives us the value of the smaller part, which is Rs. 8400.

Question 13

1/5 part of an amount was given at 3% simple interest, 1/3 part was given at 5% simpleinterest, 2/5 parts at 9% simple interest and remaining part at 11% simple interest. The totalinterest received was Rs.297. How much amount was originally given?
A)4500
B)5500
C)3950
D)4200

Accepted Answer

To find the original amount, let the total amount be x. The interest from each part is calculated as follows:  1/5 of x at 3% for 1 year = (1/5)x * 3/100 = 0.006x  1/3 of x at 5% for 1 year = (1/3)x * 5/100 = 0.0167x  2/5 of x at 9% for 1 year = (2/5)x * 9/100 = 0.036x  Remaining part (1 - 1/5 - 1/3 - 2/5 = 1/15 of x) at 11% for 1 year = (1/15)x * 11/100 = 0.0073x  Total interest = 0.006x + 0.0167x + 0.036x + 0.0073x = 0.066x  Given total interest = Rs.297  0.066x = 297  x = 297 / 0.066 = 4500  Thus, the original amount was Rs.4500.

Question 14

A man got Rs. 130 less, as simple interest, when he invested Rs. 2000 for 4 years as compared to investing Rs. 2250 for same duration. What is the rate of interest?
A)12%
B)13%
C)12.5%
D)10.50%

Accepted Answer

The answer of A man got Rs. 130 less, as...

Question 15

Find the principal which yields a simple interest of Rs. 20 and compound interest of Rs. 21 in two years, at the same percent rate per annum?
A)rs. 520
B)rs. 480
C)rs. 420
D)rs. 200

Accepted Answer

The answer of Find the principal which yields a simple...

Question 16

A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.
A)rs. 4900
B)rs. 5000
C)rs. 5200
D)rs. 5600

Accepted Answer

The answer of A sum of Rs. 4000 amounts to...

Question 17

Akhil borrowed a certain sum of money at the rate of 6%, 9% and 14% for a period of firsttwo years, next three years and beyond the period of five years respectively. If at the end of nineyears, he paid Rs. 8550 as interest, then find the sum of money he had borrowed.
A)rs. 9,000
B)rs.14,000
C)rs.15,000
D)rs.18,000

Accepted Answer

Let the sum borrowed be Rs. x.Interest for first two years = (x * 6 * 2)/100 = Rs. 12x/100Interest for next three years = (x * 9 * 3)/100 = Rs. 27x/100Interest for beyond five years = (x * 14 * 4)/100 = Rs. 56x/100Total interest = Rs. 8550Therefore, (12x/100) + (27x/100) + (56x/100) = 8550=> 95x/100 = 8550=> x = (8550 * 100)/95=> x = Rs. 9000

Question 18

r. Karan borrowed a certain amount at 6% per annum simple interest for 9 years. After 9 years, he returned Rs. 8110/-. Find out the amount that he borrowed.
A)rs. 4,900
B)rs. 5,000
C)rs. 5,100
D)rs. 5266

Accepted Answer

The answer of r. Karan borrowed a certain amount at...

Question 19

In how many years, Rs. 200 will produce the same interest @ 5 % as Rs. 900 produce in 2 years @ 3 ½ %?
A)6.3 years
B)8.2 years
C)9 years
D)12 years

Accepted Answer

The interest produced by Rs. 900 in 2 years at 3.5% per annum can be calculated as follows: Interest = Principal × Rate × Time / 100 = 900 × 3.5 × 2 / 100 = 63. To find the time it takes for Rs. 200 to produce the same interest at 5% per annum, we use the formula for interest and solve for time: 63 = 200 × 5 × Time / 100, which gives Time = 63 × 100 / (200 × 5) = 6.3 years.

Question 20

certain sum earns simple interest of Rs. 800 in 2 years at a certain rate of interest. If the samesum earns compound interest of Rs. 845 in the same period of 2 years, What must be the rate ofinterest?
A)5% p.a.
B)7.5% p.a.
C)10% p.a.
D)12.5% p.a.

Accepted Answer

The difference in interest (compound interest - simple interest) over 2 years is Rs. 45, which is the interest on the first year's interest. This means the rate of interest is (45/800)*100 = 5.625%, which is approximately 5% per annum.

Quiz 4: Simple Interest and Installment Calculations

Ram gets Rs. 2600 for Rs. 2000 in 5 years at some rate of simple interest. Had he invested inother places where rate of simple interest is 3% more than current rate, how much would haveRam got in same time?

Guddi invested some money in a bank at rate of 6% per annum. At simple interest, after 9 years, she got Rs. 8470. How much did she invest?

Aman got a salary of Rs. 8600. The salary was invested by him in two parts. Find thedifference between the two parts of his salary, if in first part he got some simple interest at 15%per annum in 4 years, which was same as the second part which he invested at 20% for 3 years.

Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interestdoes Raj get?

If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?

In 4 years the simple interest on certain sum of money is 9/25 of the principal. The annual rate of interest is

A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest) . The same sumbecomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find thesum and the duration.

An amount becomes 7 times in 15 years. In how many years will the same amount become 10 times? The rate of interest remains the same for both cases.

In 40 years an amount becomes 6 times the original amount. What is the rate of interest?

A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments withan initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, thenwhat would be the installment charged for each month?

How much should be the annual installment to completely pay off a debt of Rs. 1078 in 6 years at 9% per annum rate of interest?

Rs. 20400 was divided in two parts and then invested. One part invested at 6.25% for 8 yearsyields the same interest as the other part invested at 7% for 5 years. What is the value of smallerpart?

1/5 part of an amount was given at 3% simple interest, 1/3 part was given at 5% simpleinterest, 2/5 parts at 9% simple interest and remaining part at 11% simple interest. The totalinterest received was Rs.297. How much amount was originally given?

A man got Rs. 130 less, as simple interest, when he invested Rs. 2000 for 4 years as compared to investing Rs. 2250 for same duration. What is the rate of interest?

Find the principal which yields a simple interest of Rs. 20 and compound interest of Rs. 21 in two years, at the same percent rate per annum?

A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.

Akhil borrowed a certain sum of money at the rate of 6%, 9% and 14% for a period of firsttwo years, next three years and beyond the period of five years respectively. If at the end of nineyears, he paid Rs. 8550 as interest, then find the sum of money he had borrowed.

r. Karan borrowed a certain amount at 6% per annum simple interest for 9 years. After 9 years, he returned Rs. 8110/-. Find out the amount that he borrowed.

In how many years, Rs. 200 will produce the same interest @ 5 % as Rs. 900 produce in 2 years @ 3 ½ %?

certain sum earns simple interest of Rs. 800 in 2 years at a certain rate of interest. If the samesum earns compound interest of Rs. 845 in the same period of 2 years, What must be the rate ofinterest?