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Question Detail
Find the rate at Simple interest, at which a sum becomes four times of itself in 15 years.
- 10%
- 20%
- 30%
- 40%
Answer: Option B
Explanation:
Let sum be x and rate be r%
then, (x*r*15)/100 = 3x [important to note here is that simple interest will be 3x not 4x, beause 3x+x = 4x]
=> r = 20%
1. Find the simple interest on Rs 7000 at 50/3 % for 9 months
- Rs. 1075
- Rs. 975
- Rs. 875
- Rs. 775
Answer: Option C
Explanation:
S.I. = P×R×T100
So, by putting the values in the above formula, our result will be.
Required result = 7000×50×93×12×100=875
[Please note that we have divided by 12 as we converted 9 months in a year format]
2. A financier claims to be lending money at simple interest, But he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes.
- 10.25%
- 10%
- 9.25%
- 9%
Answer: Option A
Explanation:
Let the sum is 100.
As financier includes interest every six months., then we will calculate SI for 6 months, then again for six months as below:
SI for first Six Months = (100*10*1)/(100*2) = Rs. 5
Important: now sum will become 100+5 = 105
SI for last Six Months = (105*10*1)/(100*2) = Rs. 5.25
So amount at the end of year will be (100+5+5.25)
= 110.25
Effective rate = 110.25 - 100 = 10.25
3. At 5% per annum simple interest, Rahul borrowed Rs. 500. What amount will he pay to clear the debt after 4 years
- 750
- 700
- 650
- 600
Answer: Option D
Explanation:
We need to calculate the total amount to be paid by him after 4 years, So it will be Principal + simple interest.
So,
=>500+500∗5∗4100=>Rs.600
4. What is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum
- 110
- 120
- 130
- 140
Answer: Option B
Explanation:
Let the present worth be Rs.x
Then,S.I.= Rs.(132 - x)
=› (x*5*2/100) = 132 - x
=› 10x = 13200 - 100x
=› 110x = 13200
x= 120
5. We have total amount Rs. 2379, now divide this amount in three parts so that their sum become equal after 2, 3 and 4 years respectively. If rate of interest is 5% per annum then first part will be ?
- 818
- 828
- 838
- 848
Answer: Option B
Explanation:
Lets assume that three parts are x, y and z.
Simple Interest, R = 5%
From question we can conclude that, x + interest (on x) for 2 years = y + interest (on y) for 3 years = z + interest (on y) for 4 years
(x+x∗5∗2100)=(y+y∗5∗3100)=(z+z∗5∗4100)(x+x10)=(y+3y20)=(z+z5)=>11x10=23y20=6z5lets assume k = 11x10=23y20=6z5then x=10k11y=20k23z=5k6we know x+y+z = 2379=>10k11+20k23+5k6=237910k*23*6+20k*11*6+5k*11*23=2379*11*23*61380k+1320k+1265k=2379*11*23*63965k=2379*11*23*6k=2379∗11∗23∗63965by putting value of k we can get xx=10k11=>x=1011∗2379∗11∗23∗63965=>x=10∗2379∗23∗63965=2∗2379∗23∗6793=2∗3∗23∗6=828
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