11.
Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:
A. Rs. 1550 B. Rs. 1650
C. Rs. 1750 D. Rs. 2000
Answer & Explanation
Answer: Option C
Explanation:
C.I.
= Rs. 4000 x 1 + 10 2 – 4000
100
= Rs. 4000 x 11 x 11 – 4000
10 10
= Rs. 840.
Sum = Rs. 420 x 100 = Rs. 1750.
3 x 8
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12.
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound interest on the same at the same rate and for the same time?
A. Rs. 51.25 B. Rs. 52
C. Rs. 54.25 D. Rs. 60
Answer & Explanation
Answer: Option A
Explanation:
Sum = Rs. 50 x 100 = Rs. 500.
2 x 5
Amount
= Rs. 500 x 1 + 5 2
100
= Rs. 500 x 21 x 21
20 20
= Rs. 551.25
C.I. = Rs. (551.25 – 500) = Rs. 51.25
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13.
The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:
A. Rs. 2.50 B. Rs. 3
C. Rs. 3.75 D. Rs. 4
E. None of these
Answer & Explanation
Answer: Option B
Explanation:
S.I. = Rs 1200 x 10 x 1 = Rs. 120.
100
C.I. = Rs. 1200 x 1 + 5 2 – 1200 = Rs. 123.
100
Difference = Rs. (123 – 120) = Rs. 3.
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14.
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
A. 8 B. 10
C. 12 D. Cannot be determined
E. None of these
Answer & Explanation
Answer: Option A
Explanation:
15000 x 1 + R 2 – 15000 – 15000 x R x 2 = 96
100 100
15000 1 + R 2 – 1 – 2R = 96
100 100
15000 (100 + R)2 – 10000 – (200 x R) = 96
10000
R2 = 96 x 2 = 64
3
R = 8.
Rate = 8%.
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15.
The compound interest on a certain sum for 2 years at 10% per annum is Rs. 525. The simple interest on the same sum for double the time at half the rate percent per annum is:
A. Rs. 400 B. Rs. 500
C. Rs. 600 D. Rs. 800
Answer & Explanation
Answer: Option B
Explanation:
Let the sum be Rs. P.
Then, P 1 + 10 2 – P = 525
100
P 11 2 – 1 = 525
10
P = 525 x 100 = 2500.
21
Sum = Rs . 2500.
So, S.I. = Rs. 2500 x 5 x 4 = Rs. 500
100