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Rate of Interest

Q.1. The simple interest accrued on an amount at the end of five years at the rate of 12.5.
p.c.p.a is Rs. 1575. What is the amount?
(a) Rs.2050 (b) Rs.2550 (c) Rs.2250 (d) Rs.2520 (e) None of these
Ans: (d) Rs. 2520
Explanation:
Principal (here, the amount) = Simple Interest 100/ Rate Time
= 1575 100/5 12.5 = Rs.2520. Ans.
Q. 2. Mahesh invests an amount of Rs.8560 @ 4 p.c.p.a. for 2 years. What approximate
amount of compound interest will he obtain at the end of 2 years?
(a) Rs.684 (b) Rs.689 (c) Rs.645 (d) Rs.698 (e) Rs.720
Ans: (d) Rs. 698
Explanation:
Compound interest = P ( 1 + r/100 )n - P
= 8560 (1+ 4/100) - 8560 = 8560 (100 + 4/100)
= 8560 ( 104/100) - 8560 = 8560 104/100 104/100 - 8560
= 8560 26/25 26/25 8560 = 9258 8560 = Rs.698. Ans.
Q.3. Anurima invests an amount of Rs.12710 on simple interest after a certain period. For
how many years did she invest the amount to obtain the total sum?
(a) 6 years (b) 8 years (c) 5 years (d) 4 years (5) None of these
Ans: (a) 6 years.
Explanation:
Term ( or no. of years etc ) = Simple Interest 100/Principal rate
Simple Interest = Rs.12710 Rs.10250 = Rs.2460
Therefore, the term = 2460 100/4 10250 = 6 years. Ans.
Q. 4. What would be the simple interest obtained on an amount of Rs.4450 at the rate of 9
p.c.p.a. for 2 years?
(a) Rs.807 (b) Rs.811 (c) Rs.810 (d) Rs.801 (e) None of these
Ans: (d) Rs.801
Explanation:
Simple Interest = Principal Rate Term/100
= 4450 9 2/100 = Rs.801. Ans.
Quickest way:
Find the SI for 1 year mentally i.e. =Rs. 400.5 (SI is For Rs.100 per year)
For 2 years take its double i.e. = Rs.801.Ans.
Q. 5. Rashi deposits an amount of Rs.95000 at the rate of 12 p.c.p.a simple interest for 4
years. What total amount will Rashi get at the end of 4years?
(a) Rs.45600 (b) Rs.93100 (c) Rs.140600 (d) Rs.188100 (e) None of these
Ans: (c) Rs. 140600
Explanation:
Total Amount = Principal + Simple Interest
Simple Interest = Principal Rate Term/100
= 95000 12 4/100 = Rs.45600
Therefore, the amount = Rs.95000 + Rs.45600 = Rs.140600.Ans.
Q. 6. What compound interest will be obtained on an amount of Rs.2500 at the rate of 12
p.c.p.a. in 2 years?
(a) Rs.550 (b) Rs.608 (c) Rs.596 (d) Rs.636 (e) None of these
Ans: (d) Rs.636
Explanation:
Compound Interest = Principal ( 1+ r/100 )n - Principal
= 2500 (1 + 12/100) - 2500
= 2500 112/100 112/100 2500
= 2500 56/50 56/50 2500 = Rs.3136 Rs.2500 = Rs.636. Ans.
Q. 7. A man will get Rs.180 as simple interest on Rs.1200 at 5% per annum in
(a) 3 years (b) 4 years (c) 5 years (d) 2 years (e) None of these
Ans: (a) 3 years
Explanation:
Term = SI 100/P r
= 180 100/ 1200 5 = 3 years. Ans.
Q. 8. What would be the compound interest accrued on an amount of Rs.45400 at the end of
two years at the ratio of 15 p.c.p.a.?
(a) Rs.16411.5 (b) Rs.14461.5 (c) Rs.16461.5 (d) Rs.14641.5 (e) None of these
Ans: (d) Rs.14641.5
Explanation:
Compound Interest = Principal ( 1+ r/100)n Principal
= 45400 ( 1 + 15/100) - 45400
= 45400 115/100 115/100 45400
= 45400 23/20 23/20 45400
= 454 23 23/ 2 2 45400 = 60041.5 45400 = Rs.14641.5. Ans.
Q. 9. In what time will Rs.500 amount to Rs.650 at 6% per annum?
(a) 3 years (b) 5 years (c) 6 years (d) 7.5 years (e) 8 years
Ans: (b) 5 years
Explanation:
Term = SI 100/ P r
SI = Rs.650 Rs.500 = Rs.150
Term = 150 100/ 500 6 = 5 years. Ans.
Q. 10. An amount of Rs.45000 become Rs.77400 on simple interest in eight years. What is
the rate of interest p.c.p.a.?
(a) 9 (b) 11 (c) 8 (d) 10.5 (e) None of these
Ans: (a) 9
Explanation:
Rate of interest = SI 100/P n
SI = Rs. 77400 45000 = Rs. 32400
Therefore, Rate = 32400 100/ 45000 8 = 9% p.a. Ans.
Q. 11. What amount of compound interest can be obtained on an amount of Rs.4800/- @ 6
p.c.p.a. at the end of 2 years?
(a) Rs.544.96 (b) Rs. 576/- (c) Rs.593.28 (d) Rs.588/- (e) None of these
Ans: (c) Rs.593.28
Explanation:
C I = P ( 1+ r/100 )n P
= 4800 ( 1 + 6/100 ) - 4800
= 4800 106/100 106/100 4800
= 4800 1.06 1.06 4800 = 5393.28 4800 = Rs.593.28. Ans.
Q. 12. What would be the simple interest obtained on an amount of Rs.6535 at the rate of 10
p.c.p.a. after 6 years?
(a) Rs.3414 (b) Rs.3921 (c) Rs. 3807 (d) Rs.3149 (e) none of these
Ans: (b) Rs. 3921
Explanation:
Simple Interest = PRN/100
= 6535 10 6/100 = Rs. 3921. Ans.
Q. 13. At what rate of simple interest per annum can an amount of Rs. 1553.40 be obtained
on the principal amount of Rs.8630 after 3 years?
(a) 8 p.c.p.a (b) 4 p.c.pa. (c) 5 p.c.p.a. (d) 7 p.c.p.a. (e) None of these
Ans: (e) None of these
Explanation:
Rate = SI 100/ P n
S I = Rs.1553.40; Principal = Rs.8630; term = 3 years
Therefore, the rate of interest = 1553.40 100/8630 3 = 5178/863 = 6%. Ans.
Q. 14. Mr. Anuraag Awasthi deposits an amount of Rs.56500 to obtain a simple interest at
the rate of 12 p.c.p.a. for 3 years. What total amount will Mr.Anuraag Awasthi get at the end
of 3 years?
(a) Rs.75680 (b) Rs.77540 (c) Rs. 76840 (d) Rs.73420 (e) None of these
Ans: (c) Rs.76840
Explanation:
SI = Principal Rate Term/100
Therefore, Simple Interest = 56500 12 3/100 = Rs.20340
So, the Total Amount = Rs.56500 + Rs.20340 = Rs.76840. Ans.
Q. 15. What would be the compound interest obtained on an amount of Rs.7800 at the rate of
5 p.c.p.a. after 3 years?
(a) Rs.1235.685 (b) Rs.1229.475 (c) Rs.1287.680 (d) Rs.1248.750 (e) None of these
Ans: (b) Rs.1229.475
Explanation:
C I = P (1 + r/100 )n P
= 7800 ( 1 + 5/100 ) - P
= 7800 105/100 105/100 105/100 7800
= 7800 21/20 21/20 21/20 7800 = Rs.9029.475 Rs.7800 = Rs.1229.475, Ans.
Q. 16. Sonia invested an amount of Rs.17500 at the rate of 8 p.c.p.a. After how many years
will she obtain a simple interest of Rs.16800?
(a) 15 years (b) 8 years (c) 9 years (d) 12 years (e) None of these
Ans: (d) 12 years
Explanation:
Term = SI 100/P r
= 16800 100/17500 8
= 12 years. Ans.
Q. 17. If Rs.600 becomes Rs.3600 in 20 years on a simple interest rate R, then what is the
rate of interest (value of R)?
(a) 30% (b) 25% (c) 20% (d) 15% (e) None of these
Ans: (b) 25%
Explanation:
Rate of interest = SI 100/ Pn (here, SI = 3600 600 = 3000)
= 3000 100/ 600 20 = 25%. Ans.
Q. 18. The simple interest on a certain sum of money for 2 years at 8% per annum is
Rs.2200. What will be the compound interest at the same rate and for the same time?
(a) Rs.2248 (b) Rs.2268 (c) Rs.2278 (d) Rs.2288 (e) None of these
Ans: (d) Rs.2288
Explanation:
The Principal = SI 100/ r n
= 2200 100/8 2 = Rs.13750.
CI = P (1+ r/100)n - P
= 13750 ( 1+ 8/100) - 13750 = 13750 108/100 108/100 13750
= 13750 1.08 1.08 13750 = 16038 13750 = Rs.2288. Ans.
Q. 19. The simple interest on Rs.7300 from 11 May, 1987 to 11 September, 1987 at 5% per
annum is
(a) Rs.123 (b) Rs.103 (c) Rs.200 (d) Rs.223 (e) None of these
Ans: (a) Rs.123
Explanation:
SI = P r n/100
The no. of days = 20 + 30 + 31+ 31 +11 =123 out of 365 days
(the on which the money is invested will not be taken in to count)
Therefore, term = 123/365
So, S I = 7300 123 5/365 100 = Rs.123. Ans.
Q.20. The time in which Rs.2000 will amount to Rs.2420 at 10% per annum compound
interest is
(a) 5 years (b) 2 years (c) 3 years (d) 4 years (e) None of these
Ans: (b) 2 years
Explanation:
The Amount (A) = P (1 + r/100 )n
i.e. 2420 = 2000 ( 1 + 10/100)n = 2000 (110/100)n = 2000 ( 11/10)n
(11/10)n = 2420/2000 = 121/100 = (11/10)
Therefore, n = 2 i.e. term = 2 years. Ans.
Q. 21. At what rate per cent of simple interest will a sum of money double itself in 12 years?
(a) 8 1/3% (b) 8 % (3) 8 % (d) 9 1/3% (e) None of these
Ans: (a) 8 1/3%
Explanation:
When an amount doubles itself, then the Rate of interest = 100/term and term = 100/ rate.
Therefore, here the rate of interest = 100/12 = 8 1/3%. Ans.
Q. 22. What would be the compound interest obtained on an amount of Rs.6650 at the rate of
14 p.c.p.a. after two years?
(a) Rs.2169.24 (b) Rs.1992.34 (c) Rs.2042.46 (d) Rs.1862.0 (e) None of these
Ans: (b) Rs.1992.34
Explanation:
Compound Interest = P ( 1 + r/100 )n P
= 6650 ( 1 + 14/100 ) - 6650 = 6650 114/100 114/100 6650
= 6650 1.14 1.14 6650 = Rs.8642.34 6650
= Rs.1992.34. Ans.
Q. 23. The simple interest accrued on an amount of Rs.84000 at the end of three years is
Rs.30240. What would be the compound interest accrued on the same amount at the same
rate in the same period?
(a) Rs.30013.95 (b) Rs.31013.95 (c) Rs.32013.95 (d) Rs.33013.95 (e) None of these
Ans: (e) None of these
Explanation:
The Rate of interest = SI 100/ P n = 30240 100/84000 3 = 12% p.a.
C I = P ( 1+ r/100 )n P
= 84000 ( 1 + 12/100) - 84000 = 84000 1.12 1.12 1.12 84000
= 118013.952 84000 = Rs.34013.95. Ans.
Q. 24. The difference between the simple and compound interest on a certain sum of money
for 2 years at 4% per annum is Re.1. The sum is
(a) Rs.2500 (b) Rs.2400 (c) Rs.2600 (d) Rs.2000 (e) None of these
Ans: (e) None of these
Explanation:
When the difference between C I and S I is given for 2 years,
then the Sum = difference ( 100/r)
= 1 ( 100/4) = 25 = Rs.625. Ans.
Q. 25. What approximate amount of compound interest can be obtained on an amount of
Rs.3080 at the rate of 7 p.c.p.a. at the end of 3 years?
(a) Rs.586 (b) Rs.693 (c) Rs.646 (d) Rs.596 (e) Rs.621
Ans: (b) Rs.693
Explanation:
C I = P ( 1+ r/100 )n P
= 3080 ( 1 + 7/100 ) - 3080 = 3080 1.07 1.07 1.07 3080 = 3773.13244 3080
= 693.13244 = Rs. 693. Approximately. Ans.
Q. 26. Mr. Deepak invested an amount of Rs.21250 for 6 years. At what rate of simple
interest will he obtain the total amount of Rs.26350 at the end of 6 years?
(a) 6 p.c.p.a (b) 5 p.c.p.a. (c) 8 p.c.p.a. (d) 12 p.c.p.a. (e) none of these
Ans: (e) None of these
Explanation:
S I = 26350 21250 = Rs.5100
Rate = S I 100/ P n
= 5100 100/21250 6 = 4% p.a. Ans.
Q. 27. The difference between simple and compound interests on a sum of money at 4% per
annum for 2 years is Rs.8. The sum is
(a) Rs.400 (b) Rs.800 (c) Rs.4000 (d) Rs.5000 (e)None of these
Ans: (d) Rs.5000
Explanation:
When the difference in SI and CI is given for 2 years, then the sum = difference ( 100/r)
= 8 ( 100/4) = 8 25 25 = Rs.5000. Ans.
Q. 28. A sum of money becomes eight times of itself in 3 years at compound interest. The
rate of interest per annum is
(a) 100% (b) 80% (c) 20% (d) 10% (e) None of these
Ans: (a) 100%
Explanation:
i.e. P( 1 + r/100) = 8P
(1+ r/100) =8 = 2
So, 1 + r/100 = 2 and r/100 = 2 1 =1
Then, r = 100%. Ans.
Q. 29. The Compound interest on a certain sum for 2 years is Rs.412 and the simple interest
is Rs.400. What is the rate of interest per annum?
(a) 3% (b) 4% (c) 6% (d) 8% (e) 5%
Ans: (c) 6%
Explanation:
In C I, the simple interest for the previous year is added to the principal and the interest for
this amount is also included in the interest of the current year.
Thus, the difference 412 -400 = Rs.12 is the interest for the first years S I at the same rate of
interest.
Here, the first years SI = 400/2 = Rs.200
Rs. 12 is the interest for Rs.200 in one year.
So, the rate of interest = SI 100/ P n
= 12 100/ 200 1 = 6% p.a. Ans.
Q. 30. A certain sum of money is put on simple interest at a certain rate for 4 years. Had it
been put at 3 % higher rate, it would have fetched Rs.360 more. What is the amount?
(a) Rs.2400 (b) Rs.3000 (c) Rs.3600 (d) Rs.4200 (e) None of these
Ans: (b) Rs.3000
Explanation:
At 3% more rate, the increase in SI for the 4 years = Rs.360
So, the increase in S I for 1 year = 360/4 = Rs.90
Rs.90 is 3% of the sum.
So,1% of the sum = 90/3
Therefore, the sum = 90 100/3 = Rs.3000. Ans.
OR
Let x be the sum and r the rate percent per annum.
Then, x (r + 3) 4/100 x r 4/100 = 360
i.e. x ( r + 3) 4 x r 4 = 360 100
4x ( r +3) 4xr = 36000 i.e. 4xr + 12x 4xr = 36000
12x = 36000 and therefore, x = 36000/12 = Rs.3000. Ans.
Q. 31. What will be the difference between the simple and the compound interest at the rate
of 15% per annum on a sum of Rs.12000 after 3 years?
(a) Rs.875 (b) Rs.900 (c) Rs.800.3 (d) Rs.860.5 (e) Rs.850.5
Ans: (e) Rs.850.5
Explanation:
If the Sum of money invested, the Rate percent and the Term are given and is asked to find
the difference between the C I and S I is calculated as:
Difference = Sum r (300 + r)/ (100)
Therefore, the required difference = 12000 15 (300 + 15)/ 100
= 12000 225 315/1000000
= Rs.850.5. Ans.
Q. 32. A sum was put at simple interest at a certain rate for 10 years. Had it been put at 5%
higher rate it would have fetched Rs.600 more. What was the sum?
(a) Rs. 2400 (b) Rs.2000 (c) Rs.1800 (d) Rs.1200 (e) None of these
Ans: (d) Rs.1200
Explanation:
At 5% more rate, the increase in SI for 10 years = Rs.600 (given)
So, at 5% more rate, the increase in SI for 1 year = 600/10 = Rs.60/-
i.e. Rs.60 is 5% of the invested sum
So, 1% of the invested sum = 60/5
Therefore, the invested sum = 60 100/5 = Rs.1200. Ans.
Q. 33. In what time will Rs.4200 amount to Rs.4898.88 at 16% compound interest payable
half-yearly?
(a) 1 Year (b) 2 years (c) 1.5 years (d) 2.5 years (e) 3 years
Ans: (a) 1 year
Explanation:
For CI payable at half-yearly, the Amount = P ( 1+ r/2/100)2n
i.e. 4200 ( 1+ 16/2/100)2n = 4898.88
i.e. 4200 (1 + 8/100) 2n = 4898.88
4200( 1+ 2/25)2n = 4898.88
i.e. (27/25)2n = 4898.88/4200 = 489888/420000 = 729/625 = (27/25)2 1
i.e. (27/25)2n = (27/25)2 1
therefore the time n = 1 year. Ans.
Q.34. What would be the compound interest obtained on an amount of Rs.6875 at the rate of
8% p.a. after two years?
(a) Rs.948 (b) Rs.1024 (c) Rs. 1144 (d) Rs.1216 (e) None of these
Ans: (c) Rs.1144
Explanation:
At CI, the Amount A = P ( 1+ r/100)n and CI = A - P
So, A = 6875 (1+ 8/100)2 = 6875 ( 108/100) = 6875 1.08 1.08 = Rs.8019
Therefore, CI = 8019 6875 = Rs.1144. Ans.
Q. 35. What should be the simple interest obtained on an amount of Rs.2800 at the rate of
16% p.a. after 3 years?
(a) Rs.1144 (b) Rs. 1244 (c) Rs.1344 (d) Rs.1444 (e) None of these
Ans: (c) Rs. 1344
Explanation:
S I = P r n/100
= 2800 16 3/100 = 28 16 3 = Rs.1344. Ans.
Q. 36. What approximate amount of compound interest can be obtained on an amount of
Rs.1542 at the rate of 4 p.c.p.a. after 2 years?
(a) Rs.126 (b) Rs.130 (c) Rs.122 (d) Rs.115 (e) Rs.135
Ans: (a) Rs.125
Explanation:
C I = P ( 1 + r/100)n P
= 1542 ( 1 + 4/100)2 1542
= 1542 104/100 104/100 1542
= 1542 1.04 1.04 1542 = 1667.8272 1542 = Rs.126 approximately. Ans.
Q. 37. What will be the difference between the compound interest and simple interest at the
rate of 5 p.c.p.a. on an amount of Rs.4000 at the end of two years?
(a) Rs.10 (b) Rs.20 (c) Rs.25 (d) Data inadequate (e) None of these
Ans: (a) Rs.10.
Explanation:
If Sum invested, rate % and time is given, then the difference between CI and SI can be
calculated as:
Difference = Sum ( r/100 )
= 4000 ( 5/100) = 4000 (1/20)
= 4000 1/400 = Rs.10. Ans.
Q. 38. Amount of simple interest accrued on an amount of Rs.28500 in seven years is
Rs.23940. What is the rate of interest p.c.p.a.?
(a) 10.5 (b) 12.5 (c) 11 (d) 12 (e) None of these
Ans: (d) 12
Explanation:
Rate percent = S I 100/ P Term
= 23940 100/28500 7 = 12%. Ans.
Q. 39. What is the compound interest accrued on an amount of Rs.8500 in two years @
interest 10 p.c.p.a.?
(a) Rs.1875 (b) Rs.1885 (c) Rs.1775 (d) Rs.1765 (e) None of these
Ans: (e) None of these
Explanation:
C I = P ( 1+ r/100)n P
= 8500 ( 1 + 10/100) - 8500 = 8500 ( 110/100) - 8500
= 8500 11/10 11/10 8500
= 85 11 11 8500 = 10285 8500 = Rs.1785. Ans.
Q. 40. The S I on a certain sum of money for 2 years at 8% per annum is Rs.300. What will
be the C I (in Rs.) at the same rate and for the same time?
(a) 308 (b) 312 (c) 316 (d) 324 (e) None of these
Ans: (b) 312
Explanation:
Principal P = S I 100/r n
= 300 100/8 2 = Rs.1875
C I = P ( 1+ r/100)n P
= 1875 ( 1 + 8/100 ) - 1875
= 1875 108/100 108/100 1875
= 2187 1875 = Rs.312. Ans.
Q. 41. The simple interest on a sum of money is of the principal, and the number of years
is equal to the rate % p.a. What will be the rate per cent?
(a) 5% (b) 4% (c) 16% (d) 8% (e) 10%
Ans: (a) 5%
Explanation:
Let the Sum invested, i.e. P, be Rs.100
Then, SI = 100 = Rs.25.
The rate of interest p.a. = No. of years i.e. term and let it be a
Rate = S I 100/ P n
Here, rate and time are equal, can take it as n r = a
So, a = SI 100/ P
a = 25 100/100
a = 25 a=5
Therefore, the rate per cent p.a. = 5%. Ans.
Q. 42. Tannu invests an amount of Rs.9535 at the rate of 4% p.a. to obtain a total amount of
Rs.11442 on simple interest after a certain period. For how many years did she invest the
amount to obtain the total sum?
(a) 4 years (b) 5 years (c) 7 years (d) 3 years (e) None of these
Ans: (b) 5 years
Explanation:
Given, S I = 11442 9535 = Rs.1907
Term = S I 100/P r = 1907 100/9535 4 = 5 years. Ans.
Q. 43. Mohan invests an amount of Rs.7690 at the rate of 7% p.a. for 2 years. What
approximate amount of compound interest will be obtained after 2 years?
(a) Rs.1114 (b) Rs.1118 (c) Rs.2114 (d) Rs.1211 (e) None of these
Ans: (a) Rs.1114
Explanation:
C I = P ( 1 + r/100)n P
C I = 7690 ( 1 + 7/100) - 7690
= 7690 107/100 107/100 7690
= 7690 1.07 1.07 7690 = 8804.281 7690 = Rs.1114. Approx. Ans.
Q. 44. A man deposits Rs.1000 in one bank at 8% p.a. and Rs.3000 in another bank at rate of
4% p.a. Find the rate of interest for the whole sum.
(a) 5% (b) 6% (c) 7% (d) 7.5% (e) None of these
Ans: (a) 5%
Explanation:
S I = P n r/100
First S I = 1000 1 8 /100 ( time can be taken as 1 year)
= Rs.80
Second S I = 3000 1 4/100 = Rs.120
So, the total Principal = 1000 + 3000 = Rs.4000
The S I =Rs. 80 + 120 = Rs.200
Then, the required rate of interest = S I 100/ P n
= 200 100/4000 1 = 5%. Ans.
Q. 45. If the difference between C I and S I on a certain sum of money for three years at 5%
per annum is Rs.61, what is the sum (in Rs.)?
(a) 16000 (b) 12000 (c) 10000 (d) 8000 (e) 6000
Ans: (d) 8000
Explanation:
If difference between C I and S I, rate% and time is given, then we can find the Sum invested
as:
Sum = Difference 100/r (300 + r)
= 61 100 100 100/55 305 = 40000/5 = Rs.8000. Ans.
Q. 46. Raviraj invested an amount of Rs.10000 at compound interest rate of 10 p.c.p.a. for a
period of three years. How much amount will Raviraj get after three years?
(a) Rs.12310 (b) Rs.13210 (c) Rs.13320 (d) Rs.13120 (e) None of these
Ans. (e) None of these
Explanation:
Amount A = P (1+ r/100)n
= 10000 ( 1 + 10/100)
= 10000 110/100 110/100 110/100 = Rs.13310. Ans.
Q. 47. Simple interest on a certain sum at the rate of 20% per annum for a period of 8 years
amounts to Rs.10960. What is the original sum of money?
(a) Rs.6500 (b) Rs.7800 (c) Rs.8000 (d) Data inadequate (e) None of these
Ans: (e) None of these
Explanation:
The original Sum, i.e. P = SI 100/ r n
= 10960 100/ 20 8 = Rs.6850.Ans.
Q. 48. The difference between the simple interest on a certain sum of money at 6% per
annum for 10 years and at 5% per annum for 2 years is Rs.100. Find the sum.
(a) Rs.100 (b) Rs.200 (c) Rs.400 (d) Rs.500 (e)None of these
Ans: (b) Rs.200.
Explanation:
Let the Sum be P
S I = P r n /100
So, P 6 10/100 P 5 2/100 = Rs.100
i.e. 60 P 10P = 100 100
50P = 10000
Therefore. The Sum P = 10000/50 = Rs.200.Ans.
Q. 49. The difference between the simple interest and the compound interest (compounded
annually) at the rate of 12% per annum on Rs.5000 for two years will be
(a) Rs.17.50 (b)Rs.36 (c) Rs.45 (d) Rs.72 (e) None of these
Ans: (d) Rs.72
Explanation:
When the Sum invested, the rate of interest per annum and for 2 years,
the difference between S I and C I can be calculated as:
Difference = Sum ( r/100 )
= 5000 (12/100) = 5000 12/100 12/100 = Rs.72.Ans.
Q. 50. In how many years a certain sum doubles itself at 4% per annum simple interest?
(a) 5 years (b) 10 years (c) 20 years (d) 25 years (e) none of these
Ans: (d) 25 years
Explanation:
When a Sum doubles itself, then, the rate percent, r = 100/n and the term (time) n
=100/r.
Therefore the required time = 100 /r = 100/4 = 25 years. Ans.
Q. 51. What is the difference between the simple and the compound interest on Rs.400 for 2
years at 5% p.a.
(a) Rs.5 (b) Rs.4 (c) Rs.3 (d) Rs.2 (e) None of these
Ans: (e) None of these
Explanation:
The difference between the S I and CI for 2 years = Sum ( r/100)
= 400 (5/100) = 400 5/100 5/100
= Rs.1. Ans.
Q. 52. In what time will Rs.1000 amount to Rs.1331 at 20% per annum, compounded half-
yearly?
(a) 1 years (b) 2 years (c) 1 year (d) 2 years (e) None of these
Ans: (a) 1 years
Explanation:
For CI payable at half-yearly, the Amount = P ( 1+ r/2/100)2n
Rs.1331 = 1000(1+r/2/100)2n
1331 = 1000 (110/100)2n
1331 = 1000 (11/10)2n
(11/10)2n = 1331/1000 = (11/10)
Therefore, 2n = 3; n = 3/2 = 1 years. Ans.
Q.53. What approximate amount of compound interest can be obtained on an amount of
Rs.2575 at the rate of 5% p.a. at the end of 2 years?
(a) Rs.224 (b) Rs.236 (c) Rs.248 (d) Rs.264 (e) None of these
Ans: (d) Rs.264
Explanation:
C I = P (1+ r/100)n P
= 2575 ( 1 + 5/100) - 2575 = 2575 (105/100) -2575
= 2575 1.05 1.05 2575 = 2838.9375 2575
= Rs.263.9 = Rs.264 Approx. ans.
Q.54. A sum of money at simple interest amounts to Rs.1012 in 2 years and to Rs.1067.20
in 4 years. The rate of interest per annum is
(a) 2.5% (b) 3% (c) 4% (d) 5% (e) None of these
Ans: (c) 4%
Explanation:
Amount, A = P + S I for 2 years = Rs.1012
Amount for 4 years = Rs.1067.20.
Therefore, S I for 1 years = Rs.1067.20 Rs.1012 = Rs.55.20
So, S I for 2 years = 55.20 3/2 5/2 = 55.20 2/3 5/2 = Rs.92.
Therefore, the Principal = Amount S I = 1012 92 = Rs.920.
Rate of interest = S I 100/P n
= 92 100/920 5/2 = 92 100 2 / 920 5 = 4%. Ans.
Q. 55. If the compound interest on a sum for 2 years at 12 % per annum is Rs.510, the
simple interest on the same sum at the same rate for the same period of time is
(a) Rs.400 (b) Rs.480 (c) Rs.450 (d) Rs.460 (e) None of these
Ans: (b) Rs.480.
Explanation:
If the C I, the rate of interest(r) and term (n) is given,
We can calculate the Simple Interest as:
S I = r n C I/100 [ (1 + r/100)n 1]
i.e. Simple Interest = 25/2 2 510/ 100[(1 + 25/2/100) - 1] = Rs.480 approx. Ans.
Q. 56. In 4 years, the simple interest on a certain sum of money is 9/25 of the principal. The
annual rate of interest is
(a) 4% (b) 4 % (c) 9% (d) 10% (e) None of these
Ans: (c) 9%
Explanation:
Let P be the principal and r the rate of interest
Then, P r 4/100 = 9P/25
P r 4 25 = 9 100 P
Then, r = 900/100 = 9%. Ans.
Q. 57. A sum of money invested at compound interest amounts to Rs.800 in 3 years and to
Rs.840 in 4 years. The rate of interest per annum is
(a) 2 % (b) 4% (c) 5% (d) 6 2/3% (e) None of these
Ans: (c) 5%
Explanation:
Given, CI for 3 years = Rs.800
CI for 4 years = Rs.840
Therefore, CI for 3 rd year, i.e. for the principal Rs.800 = 840 -800 = Rs.40
i.e. Rs.40 is the simple interest for Rs.800
then, the rate of interest = 40 100/800 = 5%. Ans.
Q. 58. The difference between simple and compound interest on a certain sum of money for 2
years at 4 per cent per annum is Re.1. The sum of money is
(a) Rs.600 (b) Rs.625 (c) Rs.560 (d) Rs.650 (e) None of these
Ans: (b) Rs.625
Explanation:
If the difference between CI and SI, and the rate of interest for 2 years is given, then the Sum
invested can be calculated as:
Sum = Difference (100/r) = 1 (100/4) = Rs.625. Ans.
Q. 59. What sum of money will become Rs.1352 in 2 years at 4 per cent per annum
compound interest?
(a) Rs.1200 (b) Rs.1225 (c) Rs.1250 (d) Rs.1300 (e) None of these
Ans: (c) Rs.1250
Explanation:
The Amount A = P ( 1+ r/100)n
i.e. 1352 = P ( 1 + 4/100)
1352 = P ( 104/100)
1352 = P ( 26/25) = P 26/25 26/25
P = 1352 /26/25 26/25 = 1352 25 25/26 26
=Rs.1250.Ans.
Q. 60. A certain sum of money amounts to Rs.756 in 2 years and to Rs.873 in 3 years at a
certain rate of simple interest. The rate of interest per annum is
(a) 10% (b) 11% (c) 12% (d) 13 % (e) None of these
Ans: (d) 13%
Explanation:
Given, the amount for 2 years =Rs.756
The amount for 3 years = Rs.873
Therefore, S I for 1 years = 873 756 = Rs.117
Therefore, S I for 2 years = 117 / 1 2 = 117 / 3/2 2
= 117 2 2/3 = Rs.156
Therefore, the Sum = Rs.756 156 = Rs.600.
So, the rate per cent = SI 100/P r = 78 100/600 1 = 78/6 = 13%. Ans.
Q. 61. A certain part of an amount of Rs.7200 was lent at 8% p.a. and the remaining at 12%
p.a. If the total simple interest from both the parts in four years was Rs.2944, what is the
amount which was lent at 8% p.a. interest?
(a) Rs.3200 (b) Rs.3500 (c) Rs. 3600 (d) Rs.4000 (e) Rs.4800
Ans: (a) Rs.3200
Explanation:
Let the principal lent on 8% interest rate p.a = x
We know that, S I = p n r/100
Then, 8 4 x/100 + ( 7200 x) 12 4/100 = Rs. 2944
i.e. 32x + 345600 48x = 294400
345600 294400 = 48x -32x
51200 = 16x
Therefore, x = 51200/16 = Rs.3200. Ans.
Q. 62. A person lent a certain sum of money at 8% simple interest and in 8 years the interest
amounted to Rs.216 less than the sum lent. What is the sum that the person lent?
(a) Rs.1800 (b) Rs.1200 (c) Rs.800 (d) Rs.600 (e) None of these
Ans: (d) Rs.600
Explanation:
Let P be the sum or principal
P = S I 100/ r n
Given, S I = P 216
So, P = (P 216) 100/8 8
i.e. 64 P = 100P 21600
21600 = 100P 64 P = 36P
P = 21600/36 = Rs.600. Ans.
Q. 63. Equal amounts are deposited in two banks each at 3.5% p.a. for 12 years and 8.5 years
respectively. If the difference between their interests is Rs.189.875 then what is the amount?
(a) Rs.1550 (b) Rs.1650 (c)Rs.1750 (d) Rs.1850 (e) Rs.1950
Ans: (a) Rs.1550
Explanation:
Let the principal amount be P
We know that, S I = P n r/100
Then, P 12 3.5/100 P 8.5 3.5/100 = Rs.189.875
42P/100 29.75P/100 = 189.875
12.25P = 189.875 100 = 18987.5
P = 18987.5/12.25 = Rs.1550.Ans.
Q. 64. A certain amount becomes Rs.627200 in two years and Rs.702464 in three years. If
the interest is compounded yearly what is the rate of interest?
(a) 11% (b) 12% (c) 13% (d) 14% (e) 15%
Ans: (b) 12%
Explanation:
C I for the third year = Rs.702464 Rs.627200 = Rs.75264
Rs.75264 is the SI for I year for Rs.627200.
Therefore, the Rate of interest = SI 100/P n (here, n = 1 year)
i.e. 75264 100/627200 1 = 75264/6272 = 12% Ans.
Q. 65. What is the compound interest accrued on a sum of Rs.1800 at the rate of 4 p.c.pa. in 2
years?
(a) Rs.146.88 (b) Rs.1946.88 (c) Rs.156.84 (d) Rs.1846.84 (e) None of these
Ans: (a) Rs.146.88
Explanation:
C I = P (1 + r/100)n P
= 1800 ( 1+ 4/100) - 1800 = 1800 1.04 1.04 1800
= 1946.88 1800 = Rs.146.88.Ans.
Q. 66. The simple interest accrued on a certain principal in 5 years at the rate of 12 p.c.pa. is
Rs.1536. What amount of the simple interest would one get if one invests Rs.1000 more than
the previous principal for 2 years and at the same rate pc.p.a.?
(a) Rs.845.40 (b) Rs.614.40 (c) Rs.2136 (d) Rs.1536 (e) None of these
Ans: (e) None of these
Explanation:
P = S I 100/ r n
= 153600/60 = Rs.2560
P + 1000 = 2560 + 1000 = Rs.3560
Then, the SI for 2 years on Rs.3560 at 12 p.c.p.a
S I = P r n/100
= 3560 12 2/100 = Rs.854.40. Ans:
Q. 67. A person lent a certain sum of money at 8% simple interest and in eight years, the
interest amounted to Rs.635.40 less than the amount lent. What is the amount the person lent?
(a) Rs.1725 (b) Rs.1735 (c) Rs.1745 (d) Rs.1755 (e) Rs.1765
Ans: (e) Rs.1765
Explanation:
Let the sum of money be P
SI = P n r/100
= P 8 8/100 = 16P/100
P -16P/100 = Rs.635.40
25P 16P = Rs.635.40 25
9P = 15885
P = 15885/9 = Rs.1765. Ans.
Q. 68. An amount of Rs.14800 becomes Rs.26973 after two years at compound interest.
What is the rate of interest?
(a) Rs.55% (b) 45% (c) 35% (d) 25% (e) 15%
Ans: (c) 35%
Explanation:
A = P (1+ r/100)n
26973 = 14800 (1+ r/100)
( 1+ r/100) = 26973/14800
(1+ r/100) = 26973/14800
1 + r/100 = 26973/14800 = 13.5/10 = 1.35
r/100 = 1.35 1 = 0.35
r = 0.35 100 = 35%. Ans.
Q. 69. If the difference between the compound interest and the simple interest earned on a
sum of money at the rate of 20% p.a. for two years is Rs.24, what is the amount?
(a) Rs.400 (b) Rs.600 (c) Rs.800 (d) Rs.1200 (e) None of these
Ans: (b) Rs.600
Explanation:
When the difference between CI and SI, and rate of interest for 2 years is given, we can find
the sum invested as:
Sum = Difference ( 100/r)
= 24 ( 100/20) = 24 25 = Rs.600. Ans.
Q. 70. What is the difference between the Compound interest and the simple interest for an
amount of Rs.15000 at 12% p.a. for 2 years?
(a) Rs.312 (b) Rs.288 (c) Rs.232 (d) Rs.216 (e) None of these
Ans: (d) Rs.216.
Explanation:
When the Sum invested and the rate of interest per annum for 2 years are given, then we can
calculate the difference between CI and SI as:
Difference = Sum (r/100)
= 15000 ( 12/100) = 1.5 144 = Rs.216. Ans.
Q. 71. The difference between the interest received from the two different banks on Rs.960
for 4 years is Rs.28.8, then what is the difference between their rates ?
(a) 3.5% (b) 1.25% (c) 0.75% (d) 0.5% (e) 0.25%
Ans: (c) 0.75%
Explanation:
Simple Interest ( SI) = P r n/100
Here, SI1 = 960 4 r1/100 = 38.4 r1
Similarly, SI2 = 38.4r2
Given, SI1 SI2 = Rs.28.8
i.e. 38.4 r1 38.4 r2 = 28.8
38.4 ( r1 r2) = 28.8
So, r1 r2 = 28.8/38.4 = 0.75%. Ans.
Q. 72. Vinitha invested a certain amount at the rate of 8 p.c.p.a. for 5 years and obtained a
simple interest of Rs.3800. Had she invested the same amount at the same rate of interest for
2 years, how much amount would she have obtained as compound interest at the end of 2
years?
(a) Rs.1580.80 (b) Rs.1520 (c) Rs.1550.50 (d) Rs.1550 (e) None of these
Ans: (a) Rs.1580.80
Explanation:
The Principal P = SI 100/ r n
= 3800 100/ 8 5 = Rs.9500
C I = P (1 + r/100)n P
= 9500 ( 1 + 8/100) - 9500
= 9500 1.08 1.08 9500
= 11080.8 9500 = Rs.1580.80. Ans.
Q. 73. What would be the compound interest obtained on an amount of Rs.6000 at the rate of
10% p.a. after 3 years?
(a) Rs.1800 (b) Rs.1836 (c) Rs.1946 (d) Rs.1986 (e) Rs.1994
Ans: (d) Rs.1986
Explanation:
Compound Interest C I = P ( 1+ r/100)n P
= 6000 ( 1 + 10/100) - 6000
= 6000 1.1 1.1 1.1 6000 = 7986 6000 = Rs.1986. Ans.
Q. 74. Rs.540 becomes Rs.891 in five years when the interest is simple. If the rate of interest
is increased by 2% then what will be the total amount after four years?
(a) Rs.904 (b) Rs.896 (c) Rs.872 (d) Rs.864 (e) None of these
Ans: (d) Rs.864
Explanation:
The S I for 5 years given = Rs.891 Rs.540 = Rs.351
Then the rate of interest = S I 100/ P n
= 351 100/540 5
= 13%.
After increase of 2% the new rate of interest = 15%
S I at this rate for 4 years = 540 15 4/100 = Rs.324
Therefore, the amount = P + S I = Rs.540 + Rs.324 = Rs.864. Ans.
Q. 75. The simple interest accrued in 3 years on a principal of Rs.25000 is three twentieths
the principal. What is the rate of simple interest p.c.p.a.?
(a) 5 (b) 4 (c) 6 (d) 3 (e) None of these
Ans: (a) 5%
Explanation:
Simple Interest SI = P 3/20 = 25000 3/20 = Rs.3750
Rate of interest r = SI 100/P n
= 3750 100/25000 3 = 5%. Ans.
Q. 76. The difference between the interest received from two different banks on Rs.1500 for
four years is Rs.75. Find the difference between their rates
(a) 0.25% (b) 0.5% (c) 0.75% (d) 1% (e) 1.25%
Ans: (e) 1.25%
Explanation:
Let r1 and r2 be the two rates of interest.
Then, S I = P r n/100
So, SI1 = 1500 4 r1/100 = 60r1
And S I 2 = 60r2
Given, SI1 SI2 = Rs.75
i.e. 60r1 60r2 = 75
60(r1 r2) = 75
So, r1 r2 = 75/60 =5/4 = 1.25%. Ans.
Q. 77. If the difference between the compound interest and the simple interest on a certain
sum of money for three years at 30% p.a. is Rs.8316, what is the sum?
(a) Rs.24000 (b) Rs.28000 (c) Rs.32000 (d) Rs.36000 (e) None of these
Ans: (b) Rs.28000
Explanation:
When the difference between CI and SI, and rate of interest per annum for three years is
given, then the Sum invested can be calculated as:
Sum = Difference 100/r (300 + r)
= 8316 100 100 100/ 30 30 330
= 8316 100 100 100/900 330 = Rs.28000. Ans.
Q. 78. Ravi borrowed some money at the rate of 4 pcpa for the first three years, at the rate of
8 pcpa for the next two years and at the rate of 9 pcpa for the period beyond 5 years. If he
pays a total simple interest of Rs.19550 at the end of 7 years, how much money did he
borrow?
(a) Rs.39500 (b) Rs.42500 (c) Rs.41900 (d) Rs.43000 (e) None of these
Ans: (b) Rs.42500
Explanation:
Let P be the borrowed Sum.
SI = P r n/100
So, the total interest (SI) i.e. P 4 3/100 + P 8 2/100 + P 9 2/100 = Rs.19550
i.e. 12P + 16P + 18P/100 = 19550
i.e. 46P = 19550 100
P = 19550 100/46
= Rs. 42500. Ans.
Q. 79. The simple interest of an amount of Rs.8560 at the end of 5 years is Rs.5136. What is
the rate of interest pcpa?
(a) 15% (b) 12% (c) 14% (d) 10% (e) 11%
Ans: (b) 12%
Explanation:
The rate of interest r = SI 100/P n
= 5236 100/8560 5 = 12%. Ans.
Q. 80. The compound interest on a certain sum for 2 years is Rs.82 and the simple interest is
Rs.80. What is the rate of interest per annum?
(a) 2% (b) 4% (c) 8% (d) 10% (e) None of these
Ans: (e) None of these
Explanation:
The S I for 1 year = 80/2 = Rs.40
Difference between CI and SI for 2 years = 82 80 = RS.2
This Rs.2 is the SI for Rs. 40 ( the SI for the 1st year)
So, the rate percent = 2 100/40 = 5% Ans.
Q. 81. The sum of money that will give Rs.4 per day as simple interest at the rate of 8% per
annum is36500
(a) Rs.9125 (b) Rs.18250 (c) Rs.27375 (d) Rs. 36500 (e) None of these
Ans: (b) Rs.18250
Explanation:
S I for 1 year ( i.e. 365 days) = 365 Rs.4 = Rs.1460
P = SI 100/ r n
= 1460 100/ 8 1 = Rs.18250. Ans.
Q. 82. What would be the simple interest obtained on an amount of Rs.8880 at the rate of
7.5% per annum after seven years?
(a) Rs.3211 (b) Rs.3672 (c) Rs.4424 (d) Rs.4662 (e) Rs.4880
Ans: (d) Rs.4662
Explanation:
S I = P r n /100
= 8880 7.5 7/100 = 888 75 7/100 = Rs.4662. Ans.
Q. 83. How much will be the compound interest to be paid on a principal amount of
Rs.53000 after 2 years at the rate of 4 pcpa?
(a) Rs.4324.8 (b) Rs.4432.8 (c) Rs.4342.8 (d) Rs.4234.8 (e) None of these
Ans: (a) Rs.4324.8
Explanation:
C I = P ( 1 + r/100)n P
= 53000 ( 1 + 4/100) - 53000 = 53000 1.04 1.04 53000
= 57324.8 53000 = Rs.4324.8. Ans.
Q. 84. The difference between the simple interest and the compound interest compounded
every six months at the rate of 30% per annum, at the end of 1 years is Rs.5670. What is
the sum?
(a) Rs.40000 (b) Rs.60000 (c) Rs.64000 (d) Rs.72000 (e) Rs.80000
Ans: (e) Rs.80000.
Explanation:
C I = P[(1+ r/100)n -1]
S I = P r n /100
Given, CI is compounded every six months, in this case r = 30/2 =15% and n =3 and
Let P be the required sum,
Then, P [(1+ 15/100) -1] P 30 1.5/100 = Rs.5670
i.e. P [ ( 1.15 1.15 1.15) 1] 0.45P = 5670
P ( 1.520875 1) 0.45P = 5670
P ( 0.520875 0.45) = 5670
P = 5670/0.70875 = RS.80000. Ans.
Q. 85. What will be the compound interest on a amount of Rs.12000, if the interest is
compounded half- yearly at 20% per annum for 1 years?
(a) Rs.3654 (b) Rs.3748 (c) Rs.3876 (d) Rs.3972 (e) Rs.4012
Ans: (d) Rs.3972
Explanation:
Rate of interest for 6 months = 20/2 = 15%
Term = 1 years = 3 six months, So, n = 3
CI = P [( 1+ r/100)n 1]
= 12000 [ ( 1 + 10/100) - 1] = 12000 1.1 1.1 1.1 12000
= 15972 12000 = Rs.3972. Ans.
Q. 86. Ramesh invested an amount of Rs.100000 at compound interest rate of 5% pa for a
period of 2 years. How much amount will Ramesh get after 2 years?
(a) Rs.110250 (b) Rs.110500 (c) Rs.110750 (d) Rs.120000 (e) None of these
Ans: (a) Rs.110250
Explanation:
Amount A = P ( 1+ r/100)n
= 100000 ( 1+ 5/100) = 100000 1.05 1.05 = Rs.110250. Ans.
Q. 87. What would be the simple interest obtained on an amount of Rs.7250 at the rate of 15
pcpa after 3 years?
(a) Rs.3125 (b) Rs.3262.5 (c) Rs.3375.5 (d) Rs.3475 (e) None of these
Ans: (b) Rs.3262.5
Explanation:
S I = P n r /100
= 7250 15 3/100 = Rs.3262.5. ans.
Q. 88. On what sum will the difference between simple interest and compound interest for 3
years at 20% pa amount to Rs.3840?
(a) Rs.25000 (b) Rs.30000 (c) Rs.32000 (d) Rs.36000 (e) Rs.40000
Ans: (b) Rs.30000
Explanation:
When the difference between CI and SI, rate of interest pa for 3 years is given,
Then the Sum can be calculated as:
Sum = Difference 100/r (300 + r)
= 3840 100/ 20 ( 300 + 20)
= 3840 100 100 100/400 320
= Rs.30000. Ans.
Q. 89. A sum of Rs.5250 is lent in two parts in such a way that the interest on the first part at
5% for 8 years is equal to that on the second part at 3% for 10 years. What is the difference
between these two parts?
(a) Rs.600 (b) Rs.750 (c) Rs.800 (d) Rs.850 (e) None of these
Ans: (b) Rs.750
Explanation:
Let the two parts of the sum be p1 and p2 respectively, SI = p r n/100
Then, p1 5 8/100 = p2 3 10/100
i.e. 40 p1 = 30 p2
p1/p2 =30/40 = = 3 : 4
then, p1 = 5250 3/7 = Rs.2250
and p2 = 5250 4/7 = Rs.3000
So, the difference between the two parts = 3000 2250 = Rs. 750. Ans.
Q. 90. A certain sum of money grows up to Rs.125440 in two years and up to Rs.175616 in
three years on compound interest. What is the rate of interest per annum?
(a) 5% (2) 10% (3) 20% (d) 25% (e) 40%
Ans: (e) 40%
Explanation:
The difference in amount i.e. Rs.175616 125440 = Rs.50176
Rs. 50176 is the S I for Rs. 125440 for 1 year.
Therefore, the rate of interest = SI 100/ P n
= 50176 100/ 125440 1
= 40% . Ans.
Q. 91. A man gets a simple interest of Rs.1000 on a certain principal at the rate of 5 p.c.p.a.
in 4 years. What compound interest will the man get on twice the principal in two years at the
same rate?
(a) Rs.1050 (b) Rs.1005 (c) Rs.11025 (d) Rs.10125 (e) none of these
Ans: (e) none of these
Explanation:
The Principal P = SI 100/ r n
= 100000/20 = Rs.5000.
Twice the principal = Rs.10000
CI = P[ (1 + r/100)n -1]
= 10000 [(1+ 5/100) - 1] = 10000 1.05 1.05 10000
= 11025 10000 = Rs.1025. Ans.
Q. 92. A person lent some amount @ 12% p.a. simple interest, and after 8 years he interest
amounted to Rs.312 less than the amount lent. What is the amount that person lent?
(a) Rs.7000 (b) Rs.7200 (c) Rs.7400 (d) Rs.7600 (e) Rs.7800
Ans: (e) Rs.7800
Explanation:
S I = P nr /100
Let the principal = P
S I = P 8 12/100 = 24P/25
Then, P 24P/25 = Rs.312
25P -24P = 312 25
P = 312 25 = Rs.7800. Ans.
Q. 93. Rs. 7800 becomes Rs.12480 in five years when the interest is simple. If the rate of
interest is increased by 6% then what will be the total amount after five years?
(a) Rs. 14820 (b) Rs.14920 (c) Rs.15820 (d) Rs.16820 (e) Rs.17820
Ans: (a) Rs.14820
Explanation:
The rate of interest = SI 100/P n
S I = Rs.12480 Rs.7800 = Rs.4680
Then, r = 4680 100/ 7800 5 = 12%
The increased rate of interest = 12 + 6 = 18%
SI at 18% = 7800 18 5/100 = Rs.7020.
Then, the required Amount = 7800 + 7020 = Rs.14820. Ans.
Q.94. What approximate amount of compound interest can be obtained on an amount of
Rs.9650 at the rate of 6 p.c.p.a. at the end of 3 years?
(a) Rs.1737 (b) Rs.1920 (c) Rs.1720 (d) Rs.1860 (e) Rs.1843
Ans: (e) Rs.1843.
Explanation:
C I = P ( 1 + r/100 )n P
= 9650 ( 1 + 6/100) - 9650
= 9650 1.06 1.06 1.06 9650
= 11493 9650 = Rs.1843. approx. Ans.
Q. 95. Vikrant invested an amount of Rs.19845 at the rate of 6 p.c.p.a. for a certain period.
After how many years will he obtain a simple interest of Rs.9525.6 on the given rate of
interest?
(a) 8 years (b) 5 years (c) 6 years (d) Cannot be determined (e) None of these
Ans: (a) 8 years
Explanation:
Term or Time n = S I 100/ P r
= 9525.6 100/19845 6 = 8 years. Ans.
Q. 96. Mr. Phanse invests an amount of Rs.24200 at the rate of 4 p.c.p.a. for 6 years to obtain
a simple interest . Later he invests the principal amount as well as the amount obtained as
simple interest for another 4 years at the same rate of interest. What amount of simple interest
will he obtain at the end of the last 4 years?
(a) Rs.4800 (b) Rs.4850.32 (c) Rs.4801.28 (d) Rs.4700 (e) None of these
Ans: (c) Rs.4801.28
Explanation:
S I = P r n/100
S I in the first case = 24200 4 6/100 = Rs.5808.
Amount = 24200 + 5808 = Rs.30008.
S I in the second case = 30008 4 4/100 = Rs.4801.28. Ans.
Q. 97. Ms. Khyati deposits an amount of Rs.68400 to obtain a simple interest at the rate of 18
p.c.p.a. for 4 years. What total amount will Ms.Khyati get at the end of 4 years?
(a) Rs.117648 (b) Rs.110284 (c) Rs.113334 (d) Rs.116472 (e) None of these
Ans: (a) Rs.117648
Explanation:
S I = P r n/100
= 68400 18 4/100 = Rs.49248
The amount at the end of 4 years = P + SI = 68400 + 49248 = Rs.117648. Ans.
Q. 98. Sonia invested an amount of Rs.17500 at the rate of 8 p.c.p.a. After how many years
will she obtain a simple interest of Rs.16800?
(a) 15 years (b) 8 years (c) 9 years (d) 12 years (e) None of these
Ans: (d) 12 years
Explanation:
Time n = SI 100/P r
= 16800 100/17500 8 = 12 years. Ans.
Q. 99. The simple interest accrued on an amount of Rs.16500 at the end of three years is
Rs.5940. What would be the compound interest accrued on the same amount at the same
arate in the same period? (rounded off to two digits after decimal?
(a) Rs.6681.31 (b)6218.27 (c) Rs.6754.82 (d) Rs.6537.47 (e) None of these
Ans: (a) Rs.6681.31
Explanation:
The rate of interest r = SI 100/ P n
=5940 100/16500 3 = 12%
C I = P (1+r/100)n P
= 16500 (1+ 12/100) - 16500
= 16500 1.12 1.12 1.12 16500 = 23181.302 16500 = Rs.6681.31. approx. Ans.
Q. 100. Sourabhi invested an amount of Rs.16840 at the rate of 6 p.c.p.a. for 5 years. What
total amount will she obtain with the simple interest at the said rate at the end of 5 years?
(a) Rs.20984 (b) Rs.21764 (c) Rs.20584 (d) Rs.21892 (e) None of these
Ans: (d) Rs.21892
Explanation:
S I = P n r/100
= 16840 5 6/100 = Rs.5052
The total amount at the end of 5 years = P + SI = 16840 + 5052 = Rs.21892. Ans.