Simple Interest Quiz Set 017

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Question 1

An investor puts an amount of Rs. 3200 in a simple interest scheme. If it amounts to Rs. 4640 in 9 years @5%, what would it had amounted to had the rate been 2% more?

 A

Rs. 5216.

 B

Rs. 5316.

 C

Rs. 5116.

 D

Rs. 5416.

Soln.
Ans: a

Shortcut is required here. The addition would be same as if R = 2%, T = 9 years and P = Rs. 3200, which is ${3200 × 2 × 9}/100$ = 576. So new amount is 4640 + 576 = Rs. 5216.


Question 2

A sum of Rs. 1300 is split into two parts. The first part is invested at 12% p.a. and the second at 4% p.a. What is the amount invested at 12% if the total simple interest at the end of 4 years is Rs. 368?

 A

Rs. 500.

 B

Rs. 600.

 C

Rs. 400.

 D

Rs. 700.

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 = ${x × r_1 × 4}/100$ + ${(P - x) × r_2 × 4}/100$, which simplifies to 100I = 4 × ($x × (r_1 - r_2) + P × r_2$). Putting r1 = 12, r2 = 4, P = 1300, I = 368, we get x = Rs. 500.


Question 3

What is the interest on Rs. 7500 @6% for 73 days starting from Jan 1, 2001?

 A

Rs. 90.

 B

Rs. 190.

 C

Rs. 140.

 D

Rs. 290.

Soln.
Ans: a

The given year is not a leap year. So it has 365 days. Since 73 X 5 = 365, t = 1/5 year. We have r = 6%, t = 1/5, P = 7500, so I = ${7500 × 6 × 1}/{5 × 100}$ = Rs. 90.


Question 4

Mr. X borrowed Rs. 900 from Mr. Y on simple interest @2% for 19 years. He then adds an amount x to it and lends it to Mr. Z @11% for the same duration. What is x if he gains Rs. 2584?

 A

Rs. 500.

 B

Rs. 600.

 C

Rs. 400.

 D

Rs. 700.

Soln.
Ans: a

His gain is ${(900 + x) × 11 × 19}/100$ - ${900 × 2 × 19}/100$ = 2584. We can solve this for x to get x = Rs. 500.


Question 5

A certain amount is split into two parts. The first part is invested at 8% p.a. and the second at 4% p.a. What is the total amount if the total simple interest at the end of 3 years is Rs. 312, and if the amount invested at 8% is Rs. 1800?

 A

Rs. 800.

 B

Rs. 900.

 C

Rs. 700.

 D

Rs. 1000.

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 = ${x × r_1 × 3}/100$ + ${(P - x) × r_2 × 3}/100$, which simplifies to 100I = 3 × ($x × (r_1 - r_2) + P × r_2$). Putting r1 = 8, r2 = 4, x = 1800, I = 312, we get P = Rs. 800.


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This Blog Post/Article "Simple Interest Quiz Set 017" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-04-07.

Posted by Parveen(Hoven),
Aptitude Trainer


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