Correct Answers: | |

Wrong Answers: | |

Unattempted: |

### Question 1

There are two simple interest investment options I and II. The rate of interest in option I is $1{1/2}$ times the rate for option II. The time period in option I is 2 times that for the option II. What is the ratio of interest of option I to option II, if the same amount is invested in either?

### Question 2

Mr. X puts an amount of Rs. 3900 in a simple interest scheme. If he gets a total amount of Rs. 5304 after 4 months, what is the rate of interest?

**A**

${3/4}$% p.a.

**B**

9% p.a.

**C**

${11/12}$% p.a.

**D**

1% p.a.

**Soln.**

**Ans: a**

The interest is I = 5304 - 3900 = 1404. So R = $(I × 100)/(T × P)$. Solving, we get R = $(1404 × 100)/(4 × 3900)$ = 9% per month, which is ${3/4}$% per annum. *Please note that since the time is in months the rate is also p.m.*

### Question 3

An investor puts an amount of Rs. 4600 in a simple interest scheme. If the rate of interest is 8%, how long does he have to wait for getting an amount of Rs. 5336?

### Question 4

A sum of Rs. 3420 is divided into two parts such that simple interest on these parts at 10% p.a. after 12 and 7 years, respectively, is same. What is the amount of the smaller part?

**A**

Rs. 1260.

**B**

Rs. 1360.

**C**

Rs. 1160.

**D**

Rs. 1460.

**Soln.**

**Ans: a**

We should use the shortcut technique here. If r_{1}, t_{1}, r_{2}, t_{2} be the rates and times for two parts with same interest amount, then the two parts must be in the ratio $1/{r_1 t_1} : 1/{r_2 t_2}$. In our case r_{1} = r_{2} = 10, which cancels, so the ratio is $1/t_1 : 1/t_2$. Thus, the two parts are in the ratio $t_2 : t_1$. The parts are: 3420 × $7/{12 + 7}$, and 3420 × $12/{12 + 7}$, which are 1260 and 2160. The smaller is Rs. 1260.

### Question 5

A sum of Rs. 1200 is split into two parts. The first part is invested at 9% p.a. and the second at 4% p.a. What is the amount invested at 9% if the total simple interest at the end of 6 years is Rs. 558?

**A**

Rs. 900.

**B**

Rs. 1000.

**C**

Rs. 800.

**D**

Rs. 1100.

**Soln.**

**Ans: a**

Let the amount x be invested at r1% and remaining (P - x) at r2%, and let the sum of interests be I. Then, I = ${x × r_1 × 6}/100$ + ${(P - x) × r_2 × 6}/100$, which simplifies to 100I = 6 × ($x × (r_1 - r_2) + P × r_2$). Putting r_{1} = 9, r_{2} = 4, P = 1200, I = 558, we get x = Rs. 900.

### More Chapters | See All...

Paper Folding | Data Sufficiency | Image Series | Verification of truth | Hidden Figures | Basic Simplification | Problems on Trains | HCF and LCM | Coding Decoding | Alphabet Number Series | More...

This Blog Post/Article "Simple Interest Quiz Set 005" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Updated on 2017-05-17.