11.
A sum of money amounts to Rs. 9800 after 5 years and Rs. 12005 after 8 years at the same rate of simple interest. The rate of interest per annum is:
A. 5% B. 8%
C. 12% D. 15%
Answer & Explanation
Answer: Option C
Explanation:
S.I. for 3 years = Rs. (12005 – 9800) = Rs. 2205.
S.I. for 5 years = Rs. 2205 x 5 = Rs. 3675
3
Principal = Rs. (9800 – 3675) = Rs. 6125.
Hence, rate = 100 x 3675 % = 12%
6125 x 5
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12.
What will be the ratio of simple interest earned by certain amount at the same rate of interest for 6 years and that for 9 years?
A. 1 : 3 B. 1 : 4
C. 2 : 3 D. Data inadequate
E. None of these
Answer & Explanation
Answer: Option C
Explanation:
Let the principal be P and rate of interest be R%.
Required ratio =
P x R x 6
100
= 6PR = 6 = 2 : 3.
P x R x 9
100
9PR 9
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13.
A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?
A. Rs. 35 B. Rs. 245
C. Rs. 350 D. Cannot be determined
E. None of these
Answer & Explanation
Answer: Option D
Explanation:
We need to know the S.I., principal and time to find the rate.
Since the principal is not given, so data is inadequate.
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14.
A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 6 p.a for 2 years. Find his gain in the transaction per year.
A. Rs. 112.50 B. Rs. 125
C. Rs. 150 D. Rs. 167.50
Answer & Explanation
Answer: Option A
Explanation:
Gain in 2 years
= Rs. 5000 x 25 x 2 – 5000 x 4 x 2
4 100 100
= Rs. (625 – 400)
= Rs. 225.
Gain in 1 year = Rs. 225 = Rs. 112.50
2