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 10^th 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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