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Qs.1.A sum of money amount to Rs.944 in 3 years at simple interest. If the rate
of interest be raised by 25% the sum amounts to 980 during the same period.
Find the sum and rate of interest.
a) Rs.900 , 7%
b) Rs.800, 6%
c) Rs.700, 5%
d) Rs.750, 8%
e) Rs.868, 6.3%
Ans:b
Let P be the principal, i. n
944 =
3
ri e
3
100
s p
= 944
100
kA
. . (1)
125 5
If the rate is increased by 25% new Rate=
a n 5
100
=
4
. b
980 =
3
100
4
w w = 980
3
80
(2)
From (1)&(2)
w 980
3
80
= 944
3
100
15 12
36 =
400
3 = 400 36 . (3)
Substitute (3) in (1)
400 36
= 944 = 944 144 = 800
100
3 800 = 400 36
= 6%
Shortcut:
25% of interest= Rs.980-Rs.944=Rs.36
100
100 % of interest= 36 = . 144
25
Hence the interest of 3 years =Rs.144
Then principal=Rs.944-Rs.144=Rs.800
3
Qs.2.A man deposits Rs.5600 in a bank at 3 % annual interest. After 6
4
months he withdraws Rs.3200 together with interest and after six months he
withdraws the remaining money. How much does he get as interest?
i. n
ri e
a) Rs.150
b) Rs.105
c)
d)
e)
Rs.45
Rs.65
None of these s p
Ans:a
kA
a
S.I for Rs.5600 for 6 months =n 1
5600 3
2
3
4
= . 105
b
100
.
Amount remaining after 6 months=Rs.5600-Rs.3200=Rs.2400
w 1
2400 3
3
w
2 4
Interest for next 6 months on the amount Rs2400= = . 45
100
20
2 = +
100
20
2=1+
100
=5
To become 4P,Let T be the time period in years
4 = +
100
i. n
5
4 = +
100
4=1+
5
100 ri e
= 60
s p
kA
Shortcut:
n
If principle doubles in T years at R % interest, then
T=100/R
a
20 =
100
, => R=5
. b
T=(3*100)/R
3 100
w w
If principle becomes four times in T years at R%, then
=
5
w
= 60
Qs.4.A man derives his income from an investment of Rs.2000 at a certain rate
of interest and Rs.1600 at 2% higher. The whole interest in 3 years is
Rs.960.Find the rate of interest
a) 8.5%
b) 8.33%
c) 8%
d) 8.66%
e) None of these
Ans:C
r=8
Qs.5.A sum of Rs.1550 was lent partly at 5% and partly at 8% simple interest.
The total interest received after 3 years was Rs.300. The ratio of money lent at
5% and 8% is
a)
b)
5:8
8:5 i. n
c)
d)
31:6
16:15 ri e
e) None of these
s p
Ans:d
Interest on Rs.1550 at 5% for 3 yrs=
kA
155035
= 232.50
a n100
67.50 =
33
. b
w
100
P=750
w w
Here P is the part of the principal lent at 8%
Hence rs.750 is being lent at 8% and remaining (1550-750)=Rs=800 at 5%
Required ratio= 800:750= 16:15
Qs.6.A sum of Rs.2600 lent in two parts so that the interest on the first part for
a period of 3 years at 5% is equal to second part for 6years at 4% .The second
part is equal to
a) Rs.1600
b) Rs.1300
c) Rs.1000
d) Rs.1200
e) None of these
Ans:c
8
= 2600 = 1600
8+5
= 2600 1600 = 1000
i. n
Qs.7.The S.I on certain sum of money for 3 years at 4% is Rs.303.60.Find the
ri e
C.I on the same sum for same period at same rate.
a) Rs.2530
b)
c)
Rs.350
Rs.315.90
s p
d)
e)
Rs.350.90
Rs.432
kA
Ans:c
a n
S.I=3030.60,R=4%,T=3
303.60100
. b
P=
4
w w
3 = . 2530
. = [(1 +
) 1)]
w = 2530 [(1 +
4 3
100
100
) 1]
26 3
= 2530 [( ) 1] = . 315.90
25
Qs.8.A sum of money put out at C.I amount to Rs.4050 in 1 year and in 3 years
to Rs.4723.92.Find the the original sum and rate of interest.
a) Rs.3450
b) Rs.3700
c) Rs.3750
d) Rs 4530
e) None of these
Ans:c
3
4723.92 = [(1 + ) ].(1)
100
1
4050 = [(1 + ) ]..(2)
100
kA 2
2 25 81 10 10
a
2 9 27
n
= (1 +
100
)
. b
5 9 10
= (1 +
100
)
w w 27
= (1 +
)
= 8% w 25 100
d) Rs.374.33
e) None of these
Ans:a
P=10000
T=9months=3/4 yr=3 quarters
R=4/4=1% quarterly
1 3
i. n
. = 10000 [(1 + ) 1)] = . 303.01
100
ri e
Qs.10.Some money was lent on 4% C.I. If the difference in interest of second
and first year is Rs.88,find out the sum.
a)
b)
Rs.50000
Rs.60000
s p
c)
d)
Rs.65000
Rs.55000
kA
e) None of these
a n
Ans:d
. b
For finding the answer via direct method, calculate first year interest and
Shortcut:
First year interest= w
100
=
25
41
Qs.11.The compound interest on a sum of money for 2 years is Rs.410 and the
simple interest on the same sum for same period at same rate is Rs.400. Find
the rate of interest.
a) 4%
b) 3%
c) 5%
d) 6%
e) None of these
Ans:c
1
. = [(1 + ) 1)]
100
) 2 1)]..(1)
i. n
410 = [(1 +
100
ri e
. =
100
2
s p
Shortcut:
kA
a n
Difference between simple interest and compound interest for a period of 2
years on same sum at same rate is given by the formula
. b
= (
2
100
)
410 400 = (
10 =
2
w w
.(1)
100
)
2
1002
w
2
. =
100
400 =
100
400100 200100
= =
2
Substituting value of P in (1)
2
10 =
1002
200 100 2
10 = = 2
1002
10
= = 5%
2
Qs.12.David invested certain amount in 3 different schemes A,B and C with the
rate of interest 10% p.a,12% p.a and 15% p.a(simple interest) respectively. If
total accrued in one year was Rs.3200 and the amount invested in C was
150% of the amount invested in A and 240% of the amount invested in
i. n
scheme B, what was the amount invested in scheme B?
a) Rs.5000
b)
c)
Rs.6500
Rs.8000 ri e
d)
e)
Cannot be determined
None of these
s p
Ans:a
kA
a
10 1 12 1 15 1
n
Let x,y and z be the amounts invested in A,B and C respectively. Then
100
. +
100 b
+
100
= 3200
Now,z is 240% of y=
w w
10 + 12 + 15 = 320000..(1)
240
=
12
w 100 5
=
12
5
..(2)
150
And =
100
3 2 24 8
= , = = = .(3)
2 3 15 5
Qs.13. A sum of money amounts to Rs.6690 after 3years and to Rs.10035 after
6 years on C.I. Find the sum
a) Rs.4400
b) Rs.6400
c) Rs.4460
d) Rs.6640
e) None of these
Ans:c
6690 = (1 +
100
3
) .(1)
i. n
10035 = (1 +
6
) .(2)
ri e
p
100
10035
(2)/(1)
A
3
s
6690
= (1 +
n k
100
)
b a
Substituting this in (1), we get
10035
w. 6690 =
6690
6690
w w = 6690
10035
= 4460
Qs.14.A sum of money doubles itself at C.I in 15 years. In how many years will
it become 8 times.?
a) 30 years
b) 25 years
c) 35 years
d) 45 years
e) 60 years
Ans:d
15
2 = (1 + )
100
15
2 = (1 + )
100
i. n
100
15
[(1 + ) ]3=(1 + )
100 100
ri e
15 3 =
= 45
Thus required time =45 years
s p
the same sum at same rate for the same period is:
kA
Qs.15.If the C.I interest on a sum at 12.5% p.a. for 2 years is Rs.510.The S.I on
a)
b)
Rs.450
Rs.390
an
c) Rs.478
. b
d)
e)
Ans:d
Rs.480
None of these
w w
. = [(1 +
w
100
) 1)]
12.5 2 9 2
510 = [(1 + ) 1)] = [( ) 1] = 510
100 8
= 1920
1920 12.5 2
. = = = . 480
100 100