1. A sum of Rs. 1600 gives a simple interest of Rs. 252 in 2 years and 3 months. The rate of interest per annum is:?

1. 51/2%

2. 8%

3. 7%

4. 6%

5. None of these

Answer & Explanation

Answer:- 3

Explanation :-

P = 1600 , R = ? SI = 252

T = 2+(3/12) = 2+(1/4) = 9/4 years

R = (SI*100) / (1600/(9/4))

R = 7%

2. A sum of Rs. 1750 is divided into two parts such that the interests on the first part at 8% simple interest per annum and that on the other part of 6% simple interest per annum are equal. The interest on each part (In rupees) is ?

1. 60

2. 65

3. 70

4. 40

5. None of these

Answer & Explanation

Answer:- 1

Explanation :-

Let the first Part be x, Therefore 2nd part = (1750 -x)

x*8/100 = (1750 – x)* 6/100

8x + 6x = 1750*6

14x = 1750*6

x= Rs. 750

SI = 8% of 750 =Rs. 60

3. Rs. 500 was invested at 12% per annum simple interest and a certain sum of money invested at 10% per annum simple interest at. If the sum of the interests on both the sums after 4 years is Rs. 480, the latter sum of money is?

1. Rs. 450

2. Rs. 750

3. Rs. 600

4. Rs. 550

5. None of these

Answer & Explanation

Answer:- 3

Explanation :-

SI1 (on 500 at 12% p.a. in 4 years) = (500*12*4)/100 = Rs. 240

Let other sum of money be Rs. x

Total SI = SI1 + SI2

480 = 240 -SI2

SI2 = Rs.240

SI2 = (PRT/100)

240 = (x*10*4)/100

x = Rs. 600

4. A sum of money lent out at simple interest amounts of Rs. 720 after 2 years and to Rs. 1020 after a further period of 5 years. The sum is?

1. Rs. 500

2. Rs. 600

3. Rs. 700

4. Rs. 710

5. None of these

Answer & Explanation

Answer:- 2

Explanation :-

SI (for 5 years) = Amount after 2 years + Amount after 7 years

SI (for 5 years) = 1020 – 720 = 300

SI (for 2 years) = (300/5)*2 = 120

P = 720 – 120 = Rs. 600

5. In what time will Rs. 72 become Rs. 81 at 25/4% per annum simple interest?

1. 2 years

2. 3 years

3. 2 years 6 months

4. Can’t determine

5. None of these

Answer & Explanation

Answer:- 1

Explanation :-

SI = Rs. (81 – 72) = Rs. 9

SI = PRT/100

9 = 72*(25/4)*T

T= (9*400)/(72*25) = 2 years