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Question Detail
A sum of money at simple interest amounts to Rs. 2240 in 2 years and to Rs. 2600 in 5 years. What is the principal amount
- 1000
- 1500
- 2000
- 2500
Answer: Option C
Explanation:
SI for 3 year = 2600-2240 = 360
SI for 2 year 360/3 * 2 = 240
principal = 2240 - 240 = 2000
1. If a sum of money doubles itself in 8 years at simple interest, the ratepercent per annum is
- 12
- 12.5
- 13
- 13.5
Answer: Option B
Explanation:
Let sum = x then Simple Interest = x
Rate = (100 * x) / (x * 8) = 12.5
2. Rs. 800 becomes Rs. 956 in 3 years at a certain rate of simple interest. If the rate of interest is increased by 4%, what amount will Rs. 800 become in 3 years.
- Rs 1052
- Rs 1152
- Rs 1252
- Rs 1352
Answer: Option A
Explanation:
S.I. = 956 - 800 = Rs 156
\begin{aligned}
R = \frac{156*100}{800*3} \\
R = 6\frac{1}{2}\% \\
\text{ New Rate = }6\frac{1}{2}+4 \\
= \frac{21}{2} \% \\
\text{ New S.I. = }800\times\frac{21}{2}\times{3}{100} \\
= 252
\end{aligned}
Now amount will be 800 + 252 = 1052
3. If A lends Rs. 3500 to B at 10% p.a. and B lends the same sum to C at 11.5% p.a., then the gain of B (in Rs.) in a period of 3 years is
- Rs. 154.50
- Rs. 155.50
- Rs. 156.50
- Rs. 157.50
Answer: Option D
Explanation:
We need to calculate the profit of B.
It will be,
SI on the rate B lends - SI on the rate B gets
\begin{aligned}
\text{Gain of B}\\ &= \frac{3500\times11.5\times3}{100} - \frac{3500\times10\times3}{100}\\
= 157.50
\end{aligned}
4. In how many years Rs 150 will produce the same interest at 8% as Rs. 800 produce in 3 years at 9/2%
- 8
- 9
- 10
- 11
Answer: Option B
Explanation:
Clue:
Firstly we need to calculate the SI with prinical 800,Time 3 years and Rate 9/2%, it will be Rs. 108
Then we can get the Time as
Time = (100*108)/(150*8) = 9
5. Sahil took a loan for 6 years at the rate of 5% per annum on Simple Interest, If the total interest paid was Rs. 1230, the principal was
- 4100
- 4200
- 4300
- 4400
Answer: Option A
Explanation:
\begin{aligned}
\text{S.I.} = \frac{P*R*T}{100} \\
=> P = \frac{S.I. * 100}{R*T}
\end{aligned}
By applying above formula we can easily solve this question, as we are already having the simple interest.
\begin{aligned}
=> P = \frac{1230 * 100}{6*5} \\
=> P = 4100
\end{aligned}
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