Simple Interest
Simple Interest - Important Points
| 16. | Rs.1500 is divided into two parts such that if one part is invested at 6% and the other at 5%, the whole annual interest from both the sum is Rs.85. How much was lent at 5% ? |
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A. Rs. 500
B. Rs. 245
C. Rs. 1250
D. Rs. 635
View Answer Discuss Work SpaceAnswer: option a
Explanation:
Let P be the sum invested at 5%.
=> (kx5x1)/100 + [(1500 - k)x6x1]/100 = 85
=> 5k/100 + 90 – 6k/100 = 85
=> k/100 = 5
=> k = 500
| 17. | A financier claims to be lending money at simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effective rate of interest becomes: |
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A. 10%
B. 10.25%
C. 10.5%
D. none of these
View Answer Discuss Work SpaceAnswer: option b
Explanation:
Let the sum be Rs. 100. Then,
S.I. for first 6 months = Rs.[(100 x 10 x 1)/(100 x 2)] = Rs. 5
S.I. for last 6 months = Rs.[(105 x 10 x 1)/(100 x 2)] = Rs. 5.25
So, amount at the end of 1 year = Rs.(100 + 5 + 5.25) = Rs. 110.25
Effective rate = (110.25 - 100) = 10.25%
| 18. | With a given rate of SI the ratio of principal and amount for a certain period of time is 4:5. After 2.5 years, with the same rate of interest, the ratio of the principal and amount becomes 5:7. Find the rate of interest? |
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A. 10%
B. 8%
C. 5%
D. 6%
View Answer Discuss Work SpaceAnswer: option d
Explanation:
Please refer Important Points. Discuss in Forum.
| 19. | A person invests some money in two banks in the ratio of 7:5. The rate of SI on first investment is 17%, but overall annual interest on total investment is 19.5%. Find his total investment if interest gain by in second investment is Rs 460? |
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A. 4800
B. 5000
C. 5600
D. 6000
View Answer Discuss Work SpaceAnswer: option c
Explanation:
Please refer Important Points.
| 20. | A person deposits a certain sum of money at the starting of each year. The bank gives him 8% SI. At the end of 3rd year, total amount becomes Rs 34800. Find how much money does he invest each year? |
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A. 11000
B. 16500
C. 12000
D. 10000
View Answer Discuss Work SpaceAnswer: option d
Explanation:
Please refer Important points.
Simple Interest Questions and Answers FAQ
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