Simple Interest Quiz Set 020

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Question 1

A sum of Rs. 300 is lent in two parts. One at 7% p.a. and one at 2% p.a. What is the amount lent at 7% if the total simple interest at the end of 5 years is Rs. 155?

 A

Rs. 500.

 B

Rs. 600.

 C

Rs. 400.

 D

Rs. 700.

Soln.
Ans: a

Let the amount x be lent at r1% and remaining (P - x) at r2%, and let the sum of interests be I. Then, I = ${x × r_1 × 5}/100$ + ${(P - x) × r_2 × 5}/100$, which simplifies to 100I = 5 × ($x × (r_1 - r_2) + P × r_2$). Putting r1 = 7, r2 = 2, P = 300, I = 155, we get x = Rs. 500.


Question 2

The simple interest on a certain principal sum @9% for a period of 7 years is Rs. 3087. What is the sum?

 A

Rs. 4900.

 B

Rs. 5000.

 C

Rs. 4800.

 D

Rs. 5100.

Soln.
Ans: a

P = $(I × 100)/(R × T)$. Solving, we get P = $(3087 × 100)/(9 × 7)$ = Rs. 4900.


Question 3

An investor puts an amount of Rs. 2300 in a simple interest scheme. If the rate of interest is 4% per month, how long does he have to wait for getting an amount of Rs. 2944?

 A

${7/12}$ year.

 B

${2/3}$ year.

 C

${3/4}$ year.

 D

${5/6}$ year.

Soln.
Ans: a

The interest is I = 2944 - 2300 = 644. So T = $(I × 100)/(R × P)$. Solving, we get T = $(644 × 100)/(4 × 2300)$ = 7 months.


Question 4

A certain amount is split into two parts. The first part is invested at 8% p.a. and the second at 5% p.a. What is the total amount if the total simple interest at the end of 3 years is Rs. 357, and if the amount invested at 8% is Rs. 1800?

 A

Rs. 1300.

 B

Rs. 1400.

 C

Rs. 1200.

 D

Rs. 1500.

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 = 5, x = 1800, I = 357, we get P = Rs. 1300.


Question 5

The interest on a certain principal sum is 4/81 times the sum. What is R, the rate of interest, if the time is R years?

 A

$2{2/9}$%.

 B

$2{1/3}$%.

 C

$2{4/9}$%.

 D

$2{1/9}$%.

Soln.
Ans: a

I = P × (4/81), so we can write P × (4/81) = P × (R/100) × R. Cancelling P and solving for R, we get, R = $√{100 × 4/81}$ = $2{2/9}$%.


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This Blog Post/Article "Simple Interest Quiz Set 020" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-05-17.

Posted by Parveen(Hoven),
Aptitude Trainer


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