How much time will take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
Answer: B
Time = (100 * 81) / (450 * 4.5) = 4 years
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The price of a T.V. set worth Rs. 20000 is to be paid in 20 installments of Rs. 1000 each. If the rate of interest be 6% per annum, and the first installment be paid at the time of purchase, then the value of the last installment covering the interest as well will be?
Answer: D
Money paid in cash = Rs. 1000
Balance payment = (20000 - 1000) = Rs. 19000
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Sam borrowed some money from his friend at simple interest of 6% per annum. He returned his friend Rs. 15600. After how much time did Sam return the money if he borrowed Rs. 12000?
Answer: C
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A lent Rs. 5000 to B for 2 years and Rs. 3000 to C for 4 years on simple interest at the same rate of interest and received Rs. 2200 in all from both of them as interest. The rate of interest per annum is?
Answer: D
Let the rate be R% p.a. Then,
(5000 * R * 2)/100 + (3000 * R * 4)/100 = 2200
100 R + 120 R = 2200
R = 10%
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A certain sum becomes Rs. 20720 in four years and 24080 in six years at simple interest. Find sum and rate of interest?
Answer: B
Let the interest for one year be x.
As amount = Principal + Interest, we have
P + 4x = 20720 --- (1) ; P + 6x = 24080 --- (2)
Solving the equations (1) and (2), we can get
P = Rs. 14000 and x = Rs. 1680
Interest for one year on Rs. 14000 is Rs. 1680
So, R = (100 * 1680)/(14000 * 1) = 12% p.a.
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A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.
Answer: C
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Mr. Karan borrowed a certain amount at 6% per annum simple interest for 9 years. After 9 years, he returned Rs. 8110/-. Find out the amount that he borrowed.
Answer: D
Let us assume Mr. Karan borrowed amount is Rs. A. (the principal)
By formula of simple interest, S.I. = PRT / 100
Where P = The principal, R = Rate of interest as a %, T = Time in years
S.I. = (P * 6 * 9)/100 = 54 P/100
Amount = Principal + S.I.
8110 = P + (54P/100)
8110 = (100P + 54P)/100
8110 = 154P/100
P = (8110 * 100)/154 = Rs. 5266.233
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If Re.1 amounts to Rs.9 over a period of 20 years. What is the rate of simple interest?
Answer: D
8 = (1*20*R)/100
R = 40%
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A sum of money becomes triple itself in 5 years at simple interest. How many years will it become six times at the same rate?
Answer: A
100 ---- 200 ---- 5
200 ---- 5
100 ---- 2 1/2
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600 ---- 12 ½ years
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In 40 years an amount becomes 6 times the original amount. What is the rate of interest?
Answer: A
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