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

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