A certain sum becomes four times itself at simple interest in eight years. In how many years does it become ten times itself?
Answer: D
Let the sum be Rs. x, then it becomes Rs. 4x in eight years Rs. 3x is the interest on x for eight years.
R = (100 * 3x)/(x * 8) = 300/8 %
If the sum becomes ten times itself, then interest is 9x.
The required time period = (100 * 9x)/(x * 300/8) = (100 * 9x * 8)/(x * 300) = 24 years.
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The equal amounts of money are deposited in two banks each at 15% per annum for 3.5 years and 5 years respectively. If the difference between their interests is Rs.144, find the each sum?
Answer: B
(P*5*15)/100 - (P*3.5*15)/100 = 144
75P/100 – 52.5P/100 = 144
22.5P = 144 * 100
=> P = Rs.640
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What is the rate percent when the simple interest on Rs.800 amount to Rs.160 in 4 Years?
Answer: A
160 = (180*4*R)/100
R = 5%
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A sum of Rs. 125000 amounts to Rs. 15500 in 4 years at the rate of simple interest. What is the rate of interest?
Answer: D
S.I. = (15500 - 12500) = Rs. 3000\
Rate = (100 * 3000) / (12500 * 4) = 6%
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A certain sum of money is invested for one year at a certain rate of simple interest. If the rate of interest is 3% higher, then the invest earned will be 25% more than the interest earned earlier. What is the earlier rate of interest?
Answer: D
If the interest earned is 25% more than the earlier interest then the rate of interest also should be 25% higher than the earlier rate.
Let the earlier rate of interest be x%.
Now it will be (x + 3)%
% increase = (x + 3) - x/x * 100 = 25
=> x = 12
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A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest). The same sum becomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find the sum and the duration.
Answer: D
No answer description available for this question.
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At what rate percent on simple interest will a sum of money double itself in 30 years?
Answer: A
P = (P*30*R)/100
R = 3 1/3%
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A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments with an initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, then what would be the installment charged for each month?
Answer: D
No answer description available for this question.
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What amount does Kiran get if he invests Rs. 18000 at 15% p.a. simple interest for four years?
Answer: D
Simple interest = (18000 * 4 * 15)/100 = Rs. 10800
Amount = P + I = 18000 + 10800 = Rs. 28800
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In how many years, Rs. 200 will produce the same interest @ 5 % as Rs. 900 produce in 2 years @ 3 ½ %?
Answer: A
P = Rs 900, R = 3 ½ % = 7/2 %, T = 2 years.
Therefore,
S.I. = PRT/100
S.I. = Rs. (900 x 7/2 x 2/100) = Rs. 63
Now, P = Rs. 200, S.I. = Rs. 63, R = 5 %
Time = ((100 x 63) / (200 x 5) ) years = 6.3 years
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