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Q:

How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?

A) 65years B) 56years
C) 45years D) 57years
 
Answer & Explanation Answer: B) 56years

Explanation:

Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the numberof years for which it is invested, r is the rate of interest per annum

 

In this case, Rs. 1250 has become Rs.10,000.

 

Therefore, the interest earned = 10,000 – 1250 = 8750.

 

8750 = [(1250 x n x 12.5)/100]

 

=> n = 700 / 12.5 = 56 years.

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Job Role: Bank PO

30 21714
Q:

A sum of money invested for a certain number of years at 8% p.a. simple interest grows to Rs.180. The same sum of money invested for the same number of years at 4% p.a. simple interest grows to Rs.120 only. For how many years was the sum invested?

A) 25years B) 15years
C) 20years D) 22years
 
Answer & Explanation Answer: A) 25years

Explanation:

From the information provided we know that,

Principal + 8% p.a. interest on principal for n years = 180 …….. (1)

Principal + 4% p.a. interest on principal for n years = 120 ……… (2)

Subtracting equation (2) from equation (1), we get

4% p.a. interest on principal for n years = Rs.60.

Now, we can substitute this value in equation (2),

i.e Principal + 60 = 120

= Principal = Rs.60.

We know that SI = , where p is the principal, n the number of years and r the rate percent of  interest.

In equation (2), p = Rs.60, r = 4% p.a. and the simple interest = Rs.60.

Therefore, 60 =(60*n*4)/100

=> n = 100/4 = 25 years.

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Job Role: Bank PO

17 20348
Q:

A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs 360 more. Find the sum.

A) Rs.4000 B) Rs.9000
C) Rs.5000 D) Rs.6000
 
Answer & Explanation Answer: D) Rs.6000

Explanation:

Let sum = P and original rate = R. Then

[(P * (R+2) * 3)/100] - [ (P * R * 3)/100] = 360

3P*(R+2) - 3PR = 36000

3PR + 6P - 3PR = 36000

6P = 36000

P = 6000

 

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Job Role: Bank PO

70 40833
Q:

At what rate percent per annum will a sum of money double in 8 years.

A) 12.5% B) 13.5%
C) 11.5% D) 14.5%
 
Answer & Explanation Answer: A) 12.5%

Explanation:

Let principal = P, Then, S.I.= P and Time = 8 years

 

We know that S.I. = PTR/100

 

Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

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463 76679
Q:

A sum at simple interest at 1312% per annum amounts to Rs. 2502.50 after 4 years. Find the sum

A) Rs.1625 B) Rs1525
C) Rs.1425 D) Rs.1325
 
Answer & Explanation Answer: A) Rs.1625

Explanation:

 Let sum be Rs.x then, S.I. =Rs. [ x * (27/2) * 4 * (1/100) ] = Rs. 27x/50 

 

Amount =Rs [ x + (27x/50)] = Rs.77x/50 

 

=> 77X/50 = 2502.50  

 

=>X= (2502.50 * 50)/77 = 1625 

 

Hence Sum = Rs.1625

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11 13325
Q:

Find: S.l. on Rs 3000 at 18% per annum for the period from 4th

A) 118 B) 105
C) 108 D) 110
 
Answer & Explanation Answer: C) 108

Explanation:

(24 + 31 + 18) days = 73 days = 1/5 year .

 

P = Rs 3000 and R = 18 % p.a.

 S.I=3000*18*15100

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22 8997
Q:

Find: S.l. on Rs 6250 at 14% per annum for 146 days.

A) Rs.350 B) Rs.450
C) Rs.550 D) Rs.650
 
Answer & Explanation Answer: A) Rs.350

Explanation:

 

P = Rs. 6250, R = 14 %  & T = (146/365) years = 2/5 years .

 S.I=Rs.6250*14*25100=Rs.350

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66 28552
Q:

Find: S.l on Rs 68000 at 1623 1 % per annum for 9 months

A) 6500 B) 7500
C) 8500 D) 9500
 
Answer & Explanation Answer: C) 8500

Explanation:

P = 68000, R =503%  & T = 9 months (3/4 years)  

 S.I=p×r×t100=(6800×503×34)100=Rs.8500

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3 9677